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Business
Akzo Sees Synergies In ICI Acquisition
October 8, 2007
| A version of this story appeared in
Volume 85, Issue 41
Akzo Nobel managers estimate that operating cost savings and other synergies from their acquisition of ICI's paints business will total nearly $3.5 billion, after implementation costs. In a shareholder circular, the company confirmed that it intends to find a new owner for ICI's specialty starches business, while retaining ICI's specialty polymers business. Akzo Nobel expects to wrap up the $16 billion purchase by Jan. 2, 2008. Akzo's $15 billion sale of its Organon BioSciences unit to Schering-Plough should be completed no later than the end of this year.
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