![]() ![]() The coatings businesses ultimately will be incorporated into the respective Performance Coatings business units in 2023. The paints business of Grupo Orbis is being integrated in business unit Decorative Paints Latin America. The goodwill is mainly attributable to synergies expected to be achieved from integrating the company into the group. An assessment of the assumptions applied in estimating such forecasts was made, including potential synergies that are expected to be realized as a result of the transaction. The purchase price allocation was performed using the implied internal rate of return on management’s forecasts. No material changes from the current purchase price allocation are expected. The purchase price allocation will be finalized before April 21, 2023. Based on financial information received from the acquiree, revenues for the period January 1, 2022 until the date of acquisition amounted to €123 million.īased on the provisional purchase price allocation, the transaction resulted in €262 million of goodwill (non-deductible for tax purposes), €259 million of other intangible assets and €121 million of property, plant and equipment. ![]() Since its acquisition, Grupo Orbis contributed €336 million to revenue and €29 million to operating income. The transaction includes eight operational manufacturing sites. The acquisition strengthens our position in Latin America. On April 22, 2022, AkzoNobel acquired 100% of the shares of Colombia based paints and coatings company Grupo Orbis S.A. Principal place of business/country of incorporation Material subsidiaries related to continuing operations
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