November 30, 2017 / 12:52 PM / 17 days ago

Akzo Nobel shareholders approve specialty chemicals spin-off

AMSTERDAM, Nov 30 (Reuters) - Shareholders in Dutch paint and coatings company Akzo Nobel on Thursday approved the company’s plan to demerge its 10-billion-euro chemicals division.

In a vote in Amsterdam, 99.9 percent of shareholders backed the strategy.

“The separation of specialty chemicals is an essential part of our plan to accelerate growth for both sides of the company”, Chief Executive Thierry Vanlancker said ahead of the vote.

Reporting by Anthony Deutsch Editing by Greg Mahlich

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