AMSTERDAM - In response to market speculation, AkzoNobel has confirmed it is in constructive discussions regarding a merger of the AkzoNobel Paints & Coatings business with Axalta Coating Systems. This will create a leading global paint and coatings company through a merger of equals.

AkzoNobel confirms that its separation of Specialty Chemicals, including the return of the vast majority of net proceeds to shareholders, remains on track for April 2018 and is unaffected by these discussions.