Published on : Monday, August 26, 2019
AkzoNobel (AKZA; AKZOY) has repurchased 865,614 of its own ordinary shares in the period from August 19, 2019 up to and including August 23, 2019, at an average price of €81.50 per share. The consideration of the repurchase was €70.55 million.
This is part of a repurchase program announced on February 13, 2019. The total number of shares repurchased under this program to date is 24,929,968 ordinary shares for a total consideration of €1,965.57 million.
AkzoNobel intends to repurchase common shares up to a value of €2.5 billion as part of a total €6.5 billion being distributed to shareholders following the sale of the Specialty Chemicals business. The share buyback is due to be completed by the end of 2019.