AkzoNobel - Sale of Crown Paints business

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On 19 August, 2008 AkzoNobel announced that it had reached an agreement to sell its Crown Paints business to Endless LLP, a private equity house. Slaughter and May is advising AkzoNobel.

AkzoNobel was required to divest the Crown Paints business as a result of commitments given to the European Commission in December 2007 in connection with its acquisition of Imperial Chemical Industries ("ICI"). The deal is structured as a sale of shares and assets and, subject to the approval of the European Commission, is expected to be completed before the end of September 2008.

Roland Turnill (partner), James Hawes (associate), Phil Jockelson (associate), Rebecca Lyne (associate); Intellectual Property and Information Technology: Cathy Connolly (partner), David Ives (associate), Louisa Christofidou (associate); Tax: Jeanette Zaman (partner), Vrinda Sharma (associate); Pensions and Employment: Charles Cameron (partner), Helen Phillips (associate); Commercial Real Estate: David Waterfield (partner), Shipa Joshi (associate); Environment: Kate Weinberg (associate); Competition: John Boyce (partner), Anna Lyle-Smythe (associate)