Akzo Nobel specialty chemicals unit to be spun-off or sold by April 2018 - telegraaf.nl
Akzo Nobel's [AMS:AKZA], Specialty Chemicals unit will either be spun-off and floated or sold by April 2018, according to the present schedule, Thierry Vanlancker, director of the business unit, said in an interview with De Telegraaf.
No decision has been taken on what kind of separation of the main company will materialise, Vanlancker said. It is preferred the Specialty Chemicals unit remains as a whole, he remarked, adding there is significant buzz among interested parties.
No decision has yet been taken on whether a protective foundation (Dutch: Stichting) will be installed, that can assist with warding off hostile takeovers should the company be floated, Vanlancker said.
In terms of pricing, Vanlancker remarked multiples of 10x or 11x ebitda are common and at present, the unit's ebitda stood at EUR 953m in 2016, the item added.