March 27 (Reuters) - AKZO NOBEL NV:
* TODAY ANNOUNCES THE SALE OF 100% OF ITS SPECIALTY CHEMICALS BUSINESS TO THE CARLYLE GROUP AND GIC FOR AN ENTERPRISE VALUE OF €10.1 BILLION
* KEY MILESTONE IN CREATING A FOCUSED, HIGH PERFORMING PAINTS AND COATINGS COMPANY
* TRANSACTION IS EXPECTED TO BE COMPLETED BEFORE END OF 2018
* THIS TRANSACTION CREATES TWO FOCUSED AND HIGH PERFORMING BUSINESSES - PAINTS AND COATINGS, AND SPECIALTY CHEMICALS
* ON BASIS OF YEAR-END BALANCE SHEET, AKZONOBEL EXPECTS TO RECEIVE A CASH PAYMENT OF EUR 8.9 BILLION
* FOLLOWING DEDUCTION OF DEAL AND SEPARATION RELATED COSTS, AS WELL AS OTHER PREVIOUSLY ANNOUNCED LIABILITIES, THE NET PROCEEDS ARE EXPECTED TO BE AROUND €7.5 BILLION
* THE VAST MAJORITY OF NET PROCEEDS WILL BE DISTRIBUTED TO SHAREHOLDERS Source text for Eikon: Further company coverage:, (Gdynia Newsroom)