Carlyle, GIC to buy Akzo Nobel’s speciality chemicals arm for $12.5 bln: Financial Times

Carlyle Group and GIC have won the fight to buy the specialty chemicals arm of Akzo Nobel for 10.1 billion euros ($12.5 billion), including debt, the Financial Times said. Apollo Global Management, Hal Investments and a consortium of Bain Capital and Advent International were vying for the unit, the FT said. Akzo Nobel’s specialty chemicals division produces basic chemical building blocks including chlorine and salt, the story said.