Akzo Nobel to separate chemicals arm

|About: Akzo Nobel N.V. ADR (AKZOY)|By:, SA News Editor

Unveiling a new strategy to accelerate value, AkzoNobel (OTCQX:AKZOY) plans to return €1.6B to shareholders in 2017, along with a dividend increase.

It's also separating its specialty chemicals division - returning the proceeds to shareholders - and will invest €1B in R&D by 2020.

Suitor PPG Industries (NYSE:PPG) is watching closely.