Sale accomplished

The Akzo Nobel group of the Netherlands is acquiring ICI for £ 8.05 bn (€ 11.9 bn). The group also includes the adhesives and electronics materials divisions of the American National Starch and Chemical Company. However, the Akzo shareholders still have to approve the deal, as do the competition authorities. ICI came into being in 1926 as the result of the merger of four British chemical companies, and today employs a workforce of 26 000 throughout the world.