India, Nov. 7 -- Akzo Nobel N.V. (AKZOY,AKZA.AS) and Axalta Coating Systems Ltd. (AXTA) announced that they received conditional approval from the European Commission for their proposed all-stock merger of equals, marking a key milestone toward completing the transaction expected in early 2027, subject to remaining regulatory clearances.
To address competition concerns raised during the review process, the companies agreed to divest AkzoNobel's European vehicle refinish coatings business. The remedy is designed to eliminate the overlap between the companies' operations in the European Economic Area, the United Kingdom and Switzerland.
The European Commission identified no other competition issues across the companies' businesses or geogra...