AkzoNobel (Euronext Amsterdam: AKZ) has announced that, in line with the launch of its share buyback program on March 17, 2008, the company has repurchased 666,975 ordinary shares in the period August 25 until August 29, 2008. Shares were repurchased at an average price of €40.63.
The total number of shares repurchased under this program to date is 26,013,265 ordinary shares for a total consideration of €1.208 billion.
The first €1 billion tranche of the €3 billion share buyback program was concluded by the end of July 2008. The second tranche of €1 billion is expected to be completed by year end 2008.
For detailed information on the daily repurchased shares, see the AkzoNobel website at http://www.akzonobel.com/investor_relations/share_buyback_overview/index.aspx
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AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals - pro forma 2007 revenue totaled €14.4 billion. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 60,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today(TM).
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