Dutch paint and coatings specialist Akzo Nobel has submitted proposals for concessions to address the European Commission’s competition concerns over the acquisition of US rival Axalta Coating Systems, a deal worth 25 billion dollars.
The content of the proposals is not yet known, but according to previous reports, the plan is to sell Axalta’s automotive refinish coatings business.
The European Commission now has until 6 November to decide whether to deepen its review.
