June 21/Hugin -- Akzo Nobel N.V. announced the sale of its National Starch business to Corn Products International. The company will receive $1.3 billion in cash, and the buyer will assume certain pension and employee benefit liabilities.
The transaction, which has been approved by the boards of both AkzoNobel and Corn Products International, is expected to close at the end of the third quarter of 2010, subject to the appropriate regulatory approvals.