EU approves AkzoNobel and Axalta merger
AkzoNobel and Axalta Coating Systems has received conditional approval from the European Commission for their proposed all-stock merger, which will create a global coatings company.
The deal is expected to close in early 2027 subject to pending regulatory approvals.
Following constructive discussions with the European Commission, AkzoNobel and Axalta have agreed to a targeted remedy involving the divestment of AkzoNobel’s European vehicle refinish business.
According to both companies, preliminary competition concerns identified by the European Commission will be addressed by removing the horizontal overlap between the companies’ activities in the European Economic Area, UK and Switzerland. No other competition issues were identified by the European Commission in any other markets.
The divestiture should preserve the same level of competition and customer choice in the vehicle refinish coatings market in Europe while maintaining the strategic benefits of the merger on the overall deal.
AkzoNobel and Axalata merger timeline
The merger was first announced in November 2025 and approved by shareholders in August 2026.
Shareholder approval followed a tumultuous period where rival Nippon Paint Holdings offered €7.5bn to acquire AzoNobel’s decorative coatings business – a final attempt by the Japanese firm to scupper the Axalta deal, first mooted in 2025.
In October, AkzoNobel and Axalta Coating Systems revealed Axanzo as the name planned once the merger is completed.
Plans for Axanzo
The proposed merger will bring together two leading coatings companies and create a global coatings company with approximately $17 billion in revenue and a broad portfolio across powder coatings, aerospace coatings, refinish, mobility, marine and protective coatings, industrial coatings and decorative coatings.
Greg Poux-Guillaume, CEO of AkzoNobel, will serve as CEO of the combined company. Commenting on the merger, he says: “Receiving the European Commission’s approval is an important milestone as we move closer to completing our merger with Axalta. We’re well on track and look forward to bringing together our complementary technologies, expertise and talented teams to accelerate growth.”
Chris Villavarayan, Axalta CEO and president, who will serve as deputy CEO of the combined company, adds: “We are pleased that the European Commission has approved the transaction. Together we will be better positioned to serve our customers around the world, accelerate investment in differentiated technologies, and create a global leader in coatings with scale, innovation and capabilities to shape the future of our industry.”
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