NautaDutilh Advises Axalta on Merger of Equals with AkzoNobel

NautaDutilh represented Axalta in its proposed merger of equals with AkzoNobel. Axalta and AkzoNobel have entered into an agreement to combine in a merger of equals to create a premier global coatings company with an enterprise value of approximately USD 25 billion. The combination brings together two coatings industry leaders with a diversified portfolio of leading brands to better serve customers across key end markets and to enhance value for shareholders, employees and other stakeholders. The combined business will have a global footprint spanning over 160 countries, strengthening customer relationships and bringing global capabilities to local customers. The combination is expected to generate run‑rate synergies of approximately USD 600 million. The combined company will have its corporate seat in the Netherlands and dual headquarters in Amsterdam and Philadelphia. After an initial period of dual listing on Euronext Amsterdam and the NYSE, the shares of the combined company will be listed solely on the NYSE. The combined company will adopt a one‑tier board structure led by the current Chair of Axalta, with AkzoNobel’s current CEO serving as CEO of the combined company. AkzoNobel shareholders will own 55% and Axalta shareholders 45% of the combined company. The transaction is expected to close in late 2026 to early 2027, subject to approval by the shareholders of both companies and receipt of requisite regulatory approvals. NautaDutilh represented client Axalta with a team composed by: partners Stefan Wissing, Paul van der Bijl, Mauricette Schaufeli, Nina Kielman and Daniël Kuiper.

NautaDutilh Advises Axalta on Merger of Equals with AkzoNobel

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