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CVC and KKR Weigh Joint Offer for Akzo Nobel Unit

  • Apollo, Advent also weighing offers for specialty chemicals
  • Chemicals unit could be valued at more than 9 billion euros
Updated on

Private equity firms KKR & Co. and CVC Capital Partners have begun working on a joint offer for Akzo Nobel NV’s specialty chemicals division, according to people familiar with the situation.

Advent International Corp. and Apollo Global Management LLC are also considering bids for the division, which could be valued at more than 9 billion euros ($10.6 billion), said the people, who asked not to be identified because the deliberations are private.