AkzoNobel-Axalta: Brussels Approves Merger Subject to Divestment of a European Business
On November 6, 2026, the European Commission granted conditional approval to the all-share, merger-of-equals project between the Dutch company AkzoNobel and the American company Axalta Coating Systems. The combined group would generate approximately $17 billion in revenue.
AkzoNobel commits to divesting its European automotive refinish business
Brussels' approval is subject to a targeted remedy: AkzoNobel has committed to divest its European automotive refinish coatings business. According to the two groups, this commitment fully addresses the preliminary competition concerns identified by the Commission, by eliminating the horizontal overlap between their activities in the European Economic Area, the United Kingdom and Switzerland.
They state that the Commission identified no other competition issues in other markets. Automotive refinish nevertheless remains one of the businesses of the future combined group, alongside powder coatings, aerospace, industrial, marine and protective, mobility and decorative paints.
The two groups say they will preserve competition in Europe
AkzoNobel and Axalta state that this outcome will preserve the same level of competition and choice for customers in the European automotive refinish coatings market, while maintaining the strategic benefits of the merger. The remedy was agreed following discussions with the European Commission.
Greg Poux-Guillaume, Chief Executive Officer of AkzoNobel, who is set to lead the combined group, described this approval as "an important milestone as we move closer to completing our merger with Axalta." He added: "We are on track."
Chris Villavarayan, Chief Executive Officer and Chairman of Axalta, who will become Deputy Chief Executive Officer of the combined group, said: "Together, we will be better positioned to serve our customers around the world and accelerate investment in differentiated technologies."
Completion expected in early 2027, other approvals pending
The transaction remains subject to other regulatory approvals that are still pending, and its completion is expected in early 2027. In the United States, the registration statement filed by AkzoNobel with the SEC was declared effective on June 23, 2026.
On October 16, 2026, the two groups unveiled the name of the future combined group, Axanzo, which would be listed under the ticker symbol AXZ in New York and Amsterdam. The merger had been announced in November 2025.
