New Delhi, Jan 6 (PTI) Paints and coatings maker Akzo Nobel India Ltd on Monday said its board has approved exploring the sale of its powder coatings business and R&D operations to a separate indirect wholly-owned arm, Akzo Nobel NV, following a request by the parent firm.

Akzo Nobel NV (ANNV), the parent entity of Akzo Nobel India Ltd, has requested the Board of Directors of the company to consider, evaluate and start taking exploratory steps towards a potential sale of the company's powder coatings business and its international research centre (R&D operations) to a separate indirect wholly-owned subsidiary of ANNV, the company said in a regulatory filing.

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Besides, Akzo Nobel India has asked to explore the potential acquisition of decorative paints intellectual properties owned by ANNV, the company added.

"The Board of Directors of the company, at its meeting held on January 6, 2025, took note of the above said and authorised the company's management to commence exploratory steps as may be required to evaluate and examine the aforesaid potential transactions," the filing said.

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The board has also mandated that the same shall be subject to further consideration and deliberation to be carried out by the Board of Directors at the relevant point in time and the procedures to be followed by the company as per applicable laws, it added.

Akzo Nobel India has a presence in a wide range of paints and coatings segments spanning from decorative paints; automotive and speciality coatings; industrial coatings; marine, protective and yacht coatings to powder coatings.

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