News: DLX Australia's DuluxGroup says unit to divest China, HK coatings business

Jan 3 (Reuters) - Australia's DuluxGroup Ltd (DLX) said on Wednesday its majority-owned joint venture company DGL Camel International has agreed to sell a majority of its coatings business in Hong Kong and China to Yip's Chemical Holdings Ltd <0408.HK>.

DGL Camel International, which makes coating materials for building products, will retain business for the Selleys brand in Hong Kong and China along with a small part of the coatings portfolio, the company said in a statement.