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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2 ) *
Akzo Nobel N.V.
----------------
(Name of Issuer)
American Depository Receipts and Common Shares
----------------------------------------------
(Title of Class of Securities)
010199305
--------------
(CUSIP Number)
December 31, 2004
-----------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1 (b)
[_] Rule 13d-1(c)
[_] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the ACT
but shall be subject to all other provisions of the Act (however, see the
Notes).
SEC 1745 (3-98)
Page 2 of 12
CUSIP No. 010199305
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1. Names of Reporting Persons. Brandes Investment Partners, L.P.
I.R.S. Identification Nos. of above persons
(entities only). 33-0704072
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
--------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares Bene- -------------------------------------------------------------
ficially owned 6. Shared Voting Power 9,768,976 ADR and 20,100,875 ORD
by Each -------------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: -------------------------------------------------------------
8. Shared Dispositive Power 13,670,592 ADR and 20,100,875 ORD
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
13,670,592 ADR and 20,100,875 ORD
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [_]
11. Percent of Class Represented by Amount in Row (9) 11.8%
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12. Type of Reporting Person (See Instructions) IA, PN
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Page 3 of 12
CUSIP No. 010199305
--------------------------------------------------------------------------------
1. Names of Reporting Persons. Brandes Investment Partners, Inc.
I.R.S. Identification Nos. of above persons (entities only).
33-0090873
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization California
--------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 9,768,976 ADR and 20,100,875 ORD
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: ---------------------------------------------------------
8. Shared Dispositive Power
13,670,592 ADR and 20,100,875 ORD
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting
Person 13,670,592 ADR and 20,100,875 ORD shares are
deemed to be beneficially owned by Brandes
Investment Partners, Inc., as a control
person of the investment adviser. Brandes
Investment Partners, Inc. disclaims any
direct ownership of the shares reported in
this Schedule 13G, except for an amount that
is substantially less than one per cent of
the number of shares reported herein.
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [_]
11. Percent of Class Represented by Amount in Row (9) 11.8%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions) CO, OO (Control Person)
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Page 4 of 12
CUSIP No. 010199305
--------------------------------------------------------------------------------
1. Names of Reporting Persons. Brandes Worldwide Holdings, L.P.
I.R.S. Identification Nos. of above persons
(entities only). 33-0836630
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
--------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares Bene- -------------------------------------------------------------
ficially owned 6. Shared Voting Power 9,768,976 ADR and 20,100,875 ORD
by Each -------------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: -------------------------------------------------------------
8. Shared Dispositive Power 13,670,592 ADR and 20,100,875 ORD
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting
Person 13,670,592 ADR and 20,100,875 ORD shares are
deemed to be beneficially owned by Brandes
Worldwide Holdings, L.P., as a control person
of the investment adviser. Brandes Worldwide
Holdings, L.P. disclaims any direct ownership
of the shares reported in this Schedule 13G.
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [_]
11. Percent of Class Represented by Amount in Row (9) 11.8%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions) PN, OO (Control
Person)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Page 5 of 12
CUSIP No. 010199305
--------------------------------------------------------------------------------
1. Names of Reporting Persons. Charles H. Brandes I.R.S.
Identification Nos. of above persons (entities only).
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization USA
--------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Powe 9,768,976 ADR and 20,100,875 ORD
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 13,670,592 ADR and 20,100,875
ORD
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting
Person 13,670,592 ADR and 20,100,875 ORD shares are
deemed to be beneficially owned by Charles H.
Brandes, a control person of the investment
adviser. Mr. Brandes disclaims any direct
ownership of the shares reported in this
Schedule 13G, except for an amount that is
substantially less than one per cent of the
number of shares reported herein.
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [_]
11. Percent of Class Represented by Amount in Row (9) 11.8%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions) IN, OO (Control
Person)
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CUSIP No. 010199305
--------------------------------------------------------------------------------
1. Names of Reporting Persons. Glenn R. Carlson I.R.S.
Identification Nos. of above persons (entities only).
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization USA
--------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 9,768,976 ADR and 20,100,875 ORD
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 13,670,592 ADR and 20,100,875
ORD
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting
Person 13,670,592 ADR and 20,100,875 ORD shares are
deemed to be beneficially owned by Glenn R.
Carlson, a control person of the investment
adviser. Mr. Carlson disclaims any direct
ownership of the shares reported in this
Schedule 13G, except for an amount that is
substantially less than one per cent of the
number of shares reported herein.
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [_]
11. Percent of Class Represented by Amount in Row (9) 11.8%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions) IN, OO (Control
Person)
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Page 7 of 12
CUSIP No. 010199305
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1. Names of Reporting Persons. Jeffrey A. Busby I.R.S.
Identification Nos. of above persons (entities only).
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See
Instructions)
(a)[_]
(b)[_]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization USA
--------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares Bene- ---------------------------------------------------------
ficially owned 6. Shared Voting Power 9,768,976 ADR and 20,100,875 ORD
by Each ---------------------------------------------------------
Reporting 7. Sole Dispositive Power
Person With: ---------------------------------------------------------
8. Shared Dispositive Power 13,670,592 ADR and 20,100,875
ORD
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting
Person 13,670,592 ADR and 20,100,875 ORD shares are
deemed to be beneficially owned by Glenn R.
Carlson, a control person of the investment
adviser. Mr. Carlson disclaims any direct
ownership of the shares reported in this
Schedule 13G, except for an amount that is
substantially less than one per cent of the
number of shares reported herein.
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [_]
11. Percent of Class Represented by Amount in Row (9) 11.8%
--------------------------------------------------------------------------------
12. Type of Reporting Person (See Instructions) IN, OO (Control
Person)
--------------------------------------------------------------------------------
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Item 1(a) Name of Issuer:
Akzo Nobel N.V.
Item 1(b) Address of Issuer's Principal Executive Offices:
Velperweg 76, P.O. Box 9300, 6800 SB Arnhem, The Netherlands
Item 2(a) Name of Person Filing:
(i) Brandes Investment Partners, L.P.
(ii) Brandes Investment Partners, Inc.
(iii) Brandes Worldwide Holdings, L.P.
(iv) Charles H. Brandes
(v) Glenn R. Carlson
(vi) Jeffrey A. Busby
Item 2(b) Address of Principal Business office or, if None, Residence:
(i) 11988 El Camino Real, Suite 500, San Diego, CA 92130
(ii) 11988 El Camino Real, Suite 500, San Diego, CA 92130
(iii) 11988 El Camino Real, Suite 500, San Diego, CA 92130
(iv) 11988 El Camino Real, Suite 500, San Diego, CA 92130
(v) 11988 El Camino Real, Suite 500, San Diego, CA 92130
(vi) 11988 El Camino Real, Suite 500, San Diego, CA 92130
Item 2(c) Citizenship
(i) Delaware
(ii) California
(iii) Delaware
(iv) USA
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(v) USA
(vi) USA
Item 2(d) Title of Class Securities:
American Depository Receipts and Common Shares
Item 2(e) CUSIP Number:
010199305
Item 3. If this statement is filed pursuant to ss.ss. 240.13d-1(b), or
240.13d-2(b) or (c), check whether the person filing is a:
(a) [_] Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
(b) [_] Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c).
(c) [_] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [_] Investment company registered under section 8 of the
Investment Company Act (15 U.S.C. 80a-8).
(e) [_] An investment adviser in accordance with ss. 240.13d-1(b)
(1)(ii)(E).
(f) [_] An employee benefit plan or endowment fund in accordance
with ss. 240.13d-1(b)(ii)(F).
(g) [_] A parent holding company or control person in accordance
with ss. 240.13d-1(b)(1)(ii)(G).
(h) [_] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813).
(i) [_] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3).
(j) [X] Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).
This statement is filed by Brandes Investment Partners, L.P., an
investment adviser registered under the Investment Advisers Act of
1940, its control persons and its holding company. (See, also,
Exhibit A.)
Item 4. Ownership:
(a) Amount Beneficially Owned: 13,670,592 ADR and 20,100,875 ORD
(b) Percent of Class: 11.8%
(c) Number of shares as to which the joint filers have:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote:9,768,976
ADR and 20,100,875 ORD
(iii) sole power to dispose or to direct the disposition of:
0
(iv) shared power to dispose or to direct the disposition
of: 13,670,592
ADR and 20,100,875 ORD
Page 10 of 12
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class securities, check the
following |_|. N/A
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
N/A
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company.
N/A
Item 8. Identification and Classification of Members of the Group.
See Exhibit A
Item 9. Notice of Dissolution of Group.
N/A
Item 10. Certification:
(a) The following certification shall be included if the statement
is filed pursuant to ss. 240.13d-1(b):
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired and held in the ordinary course of business and
were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any
transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Date: February 14, 2005
BRANDES INVESTMENT PARTNERS, L.P.
By: /s/ Adelaide Pund
-------------------------------
Adelaide Pund as Attorney-In-Fact for
Charles H. Brandes, President of
Brandes Investment Partners, Inc., its General Partner
Page 11 of 12
BRANDES INVESTMENT PARTNERS, INC.
By: /s/ Adelaide Pund
------------------------------------
Adelaide Pund as Attorney-In-Fact for
Charles H. Brandes, President
BRANDES WORLDWIDE HOLDINGS, L.P.
By: /s/ Adelaide Pund
------------------------------------
Adelaide Pund as Attorney-In-Fact for
Charles H. Brandes, President of
Brandes Investment Partners, Inc., its General Partner
By: /s/ Adelaide Pund
------------------------------------
Adelaide Pund as Attorney-In-Fact for
Charles H. Brandes, Control Person
By: /s/ Adelaide Pund
------------------------------------
Adelaide Pund as Attorney-In-Fact for
Glenn R. Carlson, Control Person
By: /s/ Adelaide Pund
------------------------------------
Adelaide Pund as Attorney-In-Fact for
Jeffrey A. Busby, Control Person
Page 12 of 12
EXHIBITS
--------
Exhibit A is incorporated by reference to Exhibit A of Schedule 13G for 3Com
Corporation filed February 14, 2005.
Exhibit B is incorporated by reference to Exhibit B of Schedule 13G for 3Com
Corporation filed February 14, 2005.
Exhibit C is incorporated by reference to Exhibit C of Schedule 13G for 3Com
Corporation filed February 14, 2005.
Exhibit D is incorporated by reference to Exhibit D of Schedule 13G for 3Com
Corporation filed February 14, 2005.