TOKYO — Nippon Paint Holdings will buy U.S. chemical company AOC, it announced on Monday, looking to tap the company’s high market share in specialized products for coatings and other applications.
Nippon Paint will obtain all shares of AOC’s holding company LSF11 A5 TopCo for $2.34 billion from U.S.-based Lone Star Funds. The total purchase price including net interest-bearing debt will reach approximately 630 billion yen (about $4.1 billion).
