AkzoNobel India approves selling company's immovable properties

AkzoNobel India, the company behind Dulux paints, announced on Friday that its board has approved the sale of properties deemed non-productive for its business operations.

In a stock exchange filing, the company stated, "The Board has approved a proposal of monetisation by way of sale of Company’s immovable property/ies, which is/are having a very limited use/non-productive use for business operations of the Company. As and when the Company is about to reach a finality on sale of such immovable property/ies by signing the definitive agreement/s, appropriate disclosures to the stock exchanges would be made."