Akzo Nobel N.V. has completed the sale of Organon BioSciences N.V. (OBS) to Schering-Plough Corp. for €11 billion.

AMSTERDAM, the Netherlands - Akzo Nobel N.V. has completed the sale of Organon BioSciences N.V. (OBS) to Schering-Plough Corp. for €11 billion.

“It is with mixed emotions that we say goodbye to these businesses, which have been part of Akzo Nobel for so many years,” said CEO Hans Wijers.

Schering-Plough’s global headquarters will continue to be based in Kenilworth, NJ, while Boxmeer in the Netherlands will become the headquarters for its worldwide animal health business.

Akzo Nobel Car Refinishes has acquired Color Spec Paints Ltd. Established nearly 20 years ago, Color Spec Paints Ltd. has been the sole importer of Akzo Nobel Car Refinishes products in New Zealand and has established a strong presence for Akzo Nobel Car Refinishes brands.

The deal involves the entire Color Spec business, including the transfer of all employees. As part of the acquisition, Akzo Nobel Car Refinishes also takes over Color Spec’s current branches, which are located on both the North and South Islands of New Zealand.