Akzo Nobel N.V. (ENXTAM:AKZA) is in talks with multiple parties over the potential sale of its speciality chemicals business, the company has confirmed to PNE. According to AkzoNobel's senior spokesman Andrew Wood, the company is following a dual-track process for the spinning off: private sale or legal demerger. In terms of private sales, said Wood, a number of strategic buyers as well as private equity funds have expressed their interest.

These, according to the German business newspaper Handelsblatt, include a joint bid by LANXESS Aktiengesellschaft (XTRA:LXS) and Apollo Global Management, LLC (NYSE:APO). While AkzoNobel did not comment on the price tag, Trading Sat suggested a €8 billion-€10 billion price range for the unit. According to Wood, the company is on track to complete the process by April 2018.