By: ICN Bureau
Last updated : November 09, 2026 8:30 am
The transaction is anticipated to close in early 2027
The European Commission has conditionally approved the $25 billion all-stock merger of equals between Akzo Nobel N.V. and Axalta Coating Systems Ltd., clearing a major hurdle to form the combined global coatings leader Axanzo. The transaction is anticipated to close in early 2027, pending final approvals from remaining global regulators.
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.
The commitments fully resolve the European Commission's preliminary competition concerns by eliminating all horizontal overlap between the companies' activities across the European Economic Area, the UK, and Switzerland. Because the Commission identified no other issues in any other markets, this outcome preserves full customer choice and competition in the European vehicle refinish coatings sector while protecting the merger's overall strategic benefits.
The merged entity—to be named Axanzo—will generate roughly $17 billion in annual revenue and span powder, aerospace, refinish, mobility, marine, protective, industrial, and decorative coatings.
“Receiving the European Commission’s approval is an important milestone as we move closer to completing our merger with Axalta,” says Greg Poux-Guillaume, CEO of AkzoNobel, who will serve as CEO of the combined company. “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.”