Akzo Nobel NV backed a plan to transfer about 25 percent of its pension liabilities, a move that will lead to a bigger-than-estimated outlay for the world’s largest maker of decorative paints in return for improving its financial profile.
Akzo Nobel NV, Europe’s largest paintmaker, exceeded its savings target last year and Chief Executive Officer Ton Buechner pledged this year’s goals remain intact as he strives to bring profitability in line with peers such as PPG Industries Inc.
Saab Automobile , the Swedish carmaker that agreed last week to produce autos in China with Hawtai Motor Group , faces fresh uncertainty over its future after the plan failed win approval from authorities in the Asian nation.
Julius Baer Group Ltd., Switzerland’s largest publicly traded private bank, is leading the race to acquire a stake in Bank Sarasin & Cie. AG held by Rabobank Groep, people familiar with the process said.
Akzo Nobel NV, the maker of specialty chemicals and Dulux paint, will look to make more cutbacks to offset a slump in Europe that’s left an existing 500 million-euro ($653 million) savings target outdated.
NXP Semiconductor NV is considering asking its owners for another stock sale this year to increase the number of freely traded shares and meet demand from shareholders aiming to invest in the Dutch chipmaker.
ING U.S. Inc., the New York-based unit of the largest Dutch financial-services company, raised $1.27 billion in its initial public offering, pricing an increased number of shares below the marketed range.
Akzo Nobel NV , the world’s biggest paint maker, will examine all options for its U.S. Glidden brand once an overhaul to improve margins is completed, according to Chief Executive Officer Hans Wijers .