PE giant Blackstone joins race to acquire Akzo Nobel paints business

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The story "PE giant Blackstone joins race to acquire Akzo Nobel paints business" was covered 3 days ago by Business Standard, a news publisher based in India.

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PE giant Blackstone joins race to acquire Akzo Nobel paints business - Business Standard

Quick Summary:

The entry of cash-rich private equity players could drive valuations higher, which is bad news for Indian bidders, said a bidder who requested anonymity.

The review is part of our ongoing strategy to focus our portfolio on areas where we can achieve differentiating scale and strengthen our position in key coatings businesses.

Non-binding offers from all interested parties are expected by mid-March, with more private equity firms anticipated to join the race, according to a source close to the development.