17 เมษายน 2562
นิปปอนเพ้นท์โฮลดิ้ง เสนอซื้อกิจการบริษัทสีกลุ่ม Dulux ของประเทศออสเตรเลีย
เพื่อขยายธุรกิจสีให้ครอบคลุมภูมิภาคต่างๆ ของโลกมากขึ้น
******************************************************
17 April 2019
Nippon is a global leader in the paints and coatings industry
and generated approximately A$7.8 billion in sales
for the financial year ended 31 December 2018,
with operations in Asia, Europe and the US.
Nippon has essentially no operations
in Australia or New Zealand.
Nippon Paint Holdings proposes to acquire DuluxGroup primarily
focusing on the markets in South East Asia, Australia and
New Zealand.
DuluxGroup is a leading marketer and manufacturer
of premium branded products, primarily focussed on
the home improvement market
in Australia and New Zealand.
DuluxGroup’s businesses in ANZ comprise
Dulux ANZ Paint & Coatings
(which includes brands such as Dulux7 , British Paints,
Porter’s Paints and Cabot’s7 ),
Selleys adhesives and sealants,
Parchem construction chemicals, Yates garden care,
B&D garage doors and
Lincoln Sentry cabinet & architectural hardware.
DuluxGroup also owns Dulux Papua New Guinea
and has been expanding its presence in other offshore markets,
including Selleys in Asia and Craig & Rose paints in the UK.
DuluxGroup employs approximately 4,000 people
in Australia, New Zealand, Papua New Guinea,
South-East Asia, China and the United Kingdom.
DOWNLOAD INVESTORS PRESENTATION
DETAILS
DuluxGroup announced today that it has entered into
a Scheme Implementation Deed (‘SID’)5 with Nippon,
under which Nippon proposes
to acquire 100% of DuluxGroup shares
for $9.80 by way of a Scheme of Arrangement (‘Scheme’).
• 16.1x FY18 EV / EBITDA implied acquisition multiple3 and
a 35.4% premium to the 3- month volume
weighted average price (‘VWAP’) of DuluxGroup shares4
• Values DuluxGroup equity at $3.8 billion and
an implied enterprise value of $4.2 billion3
• Two world class companies
with complementary geographic market exposures
• “DuluxGroup will still be DuluxGroup.”
No expected changes to DuluxGroup leadership,
business portfolio, manufacturing and operations.
Nippon has essentially no ANZ operations
• Increased opportunity for DuluxGroup
to pursue its growth ambitions,
leveraging Nippon’s global scale and resources
***************************************************
“We are excited by the prospect of
welcoming DuluxGroup into the Nippon Group.
Patrick and his team have built DuluxGroup
into the pre-eminent provider of housing improvement products
in Australia and New Zealand
with market-leading and iconic brands operating
from world-class manufacturing facilities.
The combination of DuluxGroup and Nippon
will provide further avenues of growth for DuluxGroup
and create exciting opportunities
for all of the DuluxGroup management team and employees.
Nippon intends to maintain the legacy developed by DuluxGroup
and facilitate DuluxGroup’s existing vision
by leveraging the resources of the broader Nippon platform.
As part of the Nippon Group, it will be business as usual
and DuluxGroup will still be DuluxGroup.
****************************************************
DuluxGroup Chairman,
Mr. Graeme Liebelt
“The Board has carefully considered
the strategic options available to DuluxGroup
to maximise value, including continuing
to pursue domestic and global growth
as a standalone company,
and we have unanimously concluded that
the transaction with Nippon
is in the best interests of our shareholders.
It provides an opportunity for shareholders to realise
a significant premium to market value for their shares
and is on terms that reflect
the strategic value of DuluxGroup to Nippon.
Nippon has been extremely complimentary
of DuluxGroup’s team, capability, high quality businesses
and track record of performance,
all of which they want to maintain.
I have confidence that this new partnership
will provide strong benefits for both companies.”
****************************************************
DuluxGroup Managing Director and CEO,
Mr. Patrick Houlihan
“We are proud of the successes we have achieved
as an independent company since listing on
the Australian Securities Exchange in 2010
following our demerger from Orica Limited.
The proposed transaction is
an endorsement of the exceptional company
that our people have built over a number of years.
Nippon is a global leader in the paints and coatings sector
and we are confident that Nippon will continue
to support the ongoing success of
DuluxGroup’s businesses and brands,
and that this will create significant opportunities
for our staff, customers and strategic partners.
I am personally excited by the opportunities
that we can explore together as we continue to grow
all of our ANZ businesses
and accelerate our growth ambitions offshore.
For further information, please contact:
Media contact:
Lisa Walters,
Corporate Affairs Manager
+61 3 9263 3652 or +61 421 585 750
or lisa.walters@duluxgroup.com.au
Investor and analyst contact:
Karen McRae,
Investor Relations Manager
+61 3 9263 3586 or +61 417 186 500
or karen.mcrae@duluxgroup.com.au
WWW.CHEMWINFO.COM BY KHUN PHICHAI