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AkzoNobel Announces Share Buyback

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By: Anthony Locicero

Copy Editor, New York Post, Rodman Media

AkzoNobel has repurchased 796,840 of its own ordinary shares in the period from Feb. 25, 2019, up to and including March 1, 2019, at an average price of €79.69 per share. The consideration of the repurchase was €63.5 million.

This is part of a repurchase program announced on Feb. 13, 2019. AkzoNobel intends to repurchase common shares up to a value of €2.5 billion as part of a total of €6.5 billion being distributed to shareholders following the sale of the Specialty Chemicals business. The share buyback is due to be completed by the end of 2019.

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