AkzoNobel agrees to sell Southeast Asian paints business to Nippon Paint for $1.35 billion

Reuters reports that AkzoNobel said it agreed to sell its Southeast Asian decorative paints business to Nippon Paint for $1.35 billion. The company said the deal completes a review of its Asian decorative paints portfolio. Reuters had earlier relayed a Financial Times report that AkzoNobel was nearing a sale.