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Investing.com -- AkzoNobel’s stock jumped 5% on Friday after Cevian Capital disclosed a 3.02% stake in the Dutch paints and coatings company, according to a filing with market regulator AFM.
The stake, amounting to more than 5 million shares held via Cevian Capital II Master Fund LP, positions the Sweden-based investor among the largest shareholders in the Dulux paints maker.
AkzoNobel said it has been in regular contact with Cevian over the past two years and welcomed the move, describing it as recognition of the value still to be unlocked in the business.
The investment comes weeks after AkzoNobel cut its 2025 earnings outlook, pointing to weaker demand and currency headwinds.
The company reaffirmed its medium-term targets, including an adjusted EBITDA margin above 16% and return on investment between 16% and 19%.
AkzoNobel has been pursuing an efficiency drive under its ongoing “industrial transformation” program, which aims to deliver €250 million in cost savings by 2027. The stake purchase was first reported by the Financial Times.