Akzo Nobel NV reported weak adjusted EBITDA in the second quarter, but saw higher margins despite lower revenues. The company has signed an agreement to sell Akzo Nobel India to the JSW Group, with the deal expected to close in the fourth quarter. In Amsterdam, Akzo Nobel shares were down 4.9% to 56.46 euros. Adjusted EBITDA dropped 2% to 393 million euros, while revenue fell 6% to 2.63 billion euros. CEO Greg Poux-Guillaume credited pricing discipline and efficiency programs for increased profitability in Q2, despite currency headwinds and tepid markets.

Read more at Nasdaq: Akzo Nobel Q2 Adj. EBITDA, Revenues Down, Margin Rises; To Sell Indian Unit To JSW Group; Stock Down