By Adria Calatayud
Akzo Nobel shares climbed after activist investor Cevian took a stake in the Dutch paints maker valued at about $342 million.
Shares in Akzo jumped 5% in European morning trading on Friday, erasing the stock's losses so far this year.
Cevian took a stake of 3.02% in Akzo, according to a Dutch regulatory filing published Friday. Based on Akzo's closing share price on Thursday, Cevian's stake is valued at 294.4 million euros, equivalent to $341.7 million.
Akzo and Cevian didn't immediately respond to requests for comment.
Sweden's Cevian specializes in buying minority stakes in European-listed companies that it considers overlooked, misunderstood or out-of-favor with investors. The firm says its strategy is to use proactive, hands-on ownership to help make its portfolio companies more valuable.
In recent years, Cevian invested in Swiss bank UBS Group, U.K. medical-equipment maker Smith & Nephew and Irish building-materials supplier CRH, among other companies.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
August 22, 2025 04:52 ET (08:52 GMT)
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