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AkzoNobel (AKZA; AKZOY) has repurchased 650,000 of its own ordinary shares in the period from June 3, 2019 up to and including June 7, 2019, at an average price of €77.85 per share. The consideration of the repurchase was €50.60 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 17,387,128 ordinary shares for a total consideration of €1,343.35 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.
In accordance with regulations, AkzoNobel will inform the market about the progress made in the execution of this program through weekly updates on the share buyback overview page.