FRANKFURT, Germany — BASF AG has reportedly signed an agreement to acquire full ownership of an automotive coating joint venture it owns with Akzo Nobel. The business, called BASF Akzo Nobel (BAN) will be merged with BASF’s Sydney-based coatings unit BASF Coatings Pty Ltd with BAN on July 1.
The two units posted combined sales of about $31 million last year, according to a report from AFX News Limited. Terms of the sale were not disclosed.
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