Akzo halts share buybacks
on October 4, 2008

The blog has long worried about the high levels of debt that have been incurred by some companies in recent years. So it applauds Akzo’s decision to halt its planned €3bn share back at the half-way stage. As Nigel Davis notes in ICIS insight, Akzo has a very strong balance sheet, and its ‘gearing is only 10%’. But even so, Akzo apparently cannot currently ‘re-finance short-term bonds’.

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