French holding company Wendel said it was in exclusive talks to sell decorative paints specialist Cromology to DuluxGroup, after Dulux made an offer giving Cromology an entreprise value of 1.26 billion euros ($1.47 billion).
“The closing of the transaction should take place during the first half of 2022, subject to customary regulatory approvals,” Wendel said in a statement.
Since 2019, DuluxGroup has been part of Japan’s Nippon Paint, the world’s fourth-largest paint company.
Source: Reuters.com