January 2, 2018 / 10:55 PM / a year ago

Australia's DuluxGroup says unit to divest China, HK coatings business

Jan 3 (Reuters) - Australia’s DuluxGroup Ltd said on Wednesday its majority-owned joint venture company DGL Camel International has agreed to sell a majority of its coatings business in Hong Kong and China to Yip’s Chemical Holdings Ltd .

DGL Camel International, which makes coating materials for building products, will retain business for the Selleys brand in Hong Kong and China along with a small part of the coatings portfolio, the company said in a statement. (Reporting by Nicole Pinto in Bengaluru; editing by Grant McCool)

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