Akzonobel completed the acquisition of Colombian paint and coatings company Grupo Orbis, strengthening its long-term position in Latin America.
Through the Financial Superintendence, the Orbis Group explained that once the conditions of the share purchase agreement signed on June 29, 2021 had been fulfilled and prior authorization from the authorities, the PA Titán Trust, managed by BTG Pactual, transferred 100% of the shares of Grupo Orbis. in favor of the companies Akzo Nobel Coatings International BV, Akzo Nobel Colombia SAS, Akzo Nobel (C.) Holdings BV, Panter BV and ICI Omicron BV
The amount of the operation was not revealed, but in June of the previous year, when the transaction was known, each species of Orbis was listed on the stock market at $49,029. Assuming that Akzonobel acquired 16.13 million Orbis shares at the last market price, the payment should have been of the order of $798,769 million,
The transaction included the paint and coatings business of Pintuco, Andercol and Poliquim (resins, adhesives and chemical specialties), Mundial (distribution services for paints and related products) and Centro de Servicios Mundial (shared services center).
Pintuco’s portfolio consists of 75% decorative paints and 25% coatings, and offers a wide range of products in ten countries, creating several opportunities for revenue synergies.
With a presence in ten countries in Central America, South America and the Antilles, Grupo Orbis has consolidated revenues of around 360 million euros.
