AkzoNobel’s Russian subsidiaries placed under temporary external administration

Akzo Nobel N.V.

(AKZA; AKZOY) 

AkzoNobel has taken note of a presidential decree signed by the President of Russia placing the company’s Russian subsidiaries under temporary external administration as of today.

Under temporary external administration, operational oversight is transferred to a designated external entity, while underlying ownership remains unchanged. AkzoNobel is currently reviewing the decree and assessing its implications. Russia represents less than 2% of AkzoNobel’s revenue and is not material to the company’s overall financial performance.

The company remains committed to supporting its employees and safeguarding its interests as shareholder of AkzoNobel’s Russian subsidiaries.

Following the EU sanctions introduced in 2022, AkzoNobel discontinued a significant part of its activities in Russia. The remaining operations have since been fully localized and ringfenced, operating independently without financial support from Akzo Nobel N.V.

This is a public announcement by Akzo Nobel N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014).

About AkzoNobel  

Since 1792, we’ve been supplying the innovative paints and coatings that help to color people’s lives and protect what matters most. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and use our expertise to sustain and enhance everyday life. Because we believe every surface is an opportunity. It’s what you’d expect from a pioneering and long-established paints company that’s dedicated to providing more sustainable solutions and preserving the best of what we have today – while creating an even better tomorrow. Let’s paint the future together.

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