LKQ To Buy US Paint Distribution Business From AkzoNobel

LKQ Corporation LKQX announced its plans to buy the US paint distribution business, including 40 stores, from AkzoNobel Coatings Inc. "We have long admired the body shop solutions offered by AkzoNobel, recognized as a color technology leader and the world's largest coatings company," said LKQ's co-CEO Robert L. Wagman. "This transaction reflects LKQ's commitment to being a one-stop-shop solution to the collision repair industry.” The transaction is likely to close by May 27. Financial details of the deal were not disclosed. LKQX shares fell 1.65% to close at $26.15 yesterday. Read more from Benzinga's Company news.