Akzo Nobel Postpones Sale of National Starch Business unit

Akzo Nobel has postponed the sale of its National Starch unit because of the financial turmoil gripping global markets.

The Dutch chemical giant said it would not sell its starch business this year

Chief Financial Officer Keith Nichols said: "There has been consistent strong interest in the business. Our conclusion really is that given the current uncertainty in the wider economy, coupled with financing issues for certain players it's unlikely we'll be able to sell before the end of this year.”

However, Mr Nichols did say the company would be offloading National Starch but gave no deadline for the deal.