AkzoNobel buys 50 percent stake in Sadolin Paints

(MENAFN) AkzoNobel bought a 50 percent stake and management control of Sadolin Paints Oman expanding its presence in the Middle East, Times of Oman reported. "This is a strategic deal which forms part of AkzoNobel's ongoing growth plans for the Middle East," the company's Executive Committee member responsible for Performance Coatings said. The Omzest Group will appoint three members to the joint venture's Board of Management. AkzoNobel will make investments to support business portfolio in the Middle East.