Paint producers AkzoNobel and Axalta may merge under conditions

The European Commission has approved the merger between paint manufacturers AkzoNobel and Axalta, with the condition that AkzoNobel divests its automotive paint division in Europe. This decision aims to prevent potential price increases for garages that repair cars, as they rely on specialized equipment for mixing paints. Commissioner Teresa Ribera emphasized the importance of affordable car repairs for consumers facing rising mobility costs. Axalta, the largest coating producer, focuses solely on coatings, while AkzoNobel ranks fourth, producing both paints and coatings. Shareholders from both companies have agreed to the merger, pending the identification and approval of a suitable buyer for AkzoNobel's paint division.