IGI Holdings Completes Acquisition Of 98.31% Stake In Akzo Nobel Pakistan For Rs15.25bn.
Listen2 min
Read aloud by your device’s built-in synthetic voice, not a recording. Needs a browser that can read aloud.
✧ GENERATE BRIEFING
IGI Investments has finalized the acquisition of a 98.31% stake in Akzo Nobel Pakistan for Rs 15.246 billion following CCP approval. IGI Investments (Private) Limited, a wholly owned subsidiary of IGI Holdings Limited, has officially completed the acquisition of a 98.31 % majority stake in Akzo Nobel Pakistan Limited for Rs 15.246 billion.Disclosed via a formal filing with the Pakistan Stock Exchange (PSX) on Wednesday, September 30, 2026, the transaction followed the fulfillment of all regulatory prerequisites including formal clearance from the Competition Commission of Pakistan (CCP). IGI Investments intends to acquire the remaining 1.69 % held by minority shareholders to secure total ownership. The landmark deal marks Akzo Nobel N.V.'s exit from its direct Pakistani operations while bolstering the Packages Group affiliate's portfolio with the established industrial and decorative paint manufacturing assets.
IGI Investments (Private) Limited, a wholly owned subsidiary of IGI Holdings Limited, has completed the acquisition of a 98.31% stake in Akzo Nobel Pakistan Limited for Rs15.246 billion, marking the completion of a major transaction in Pakistan’s paints and coatings sector.
IGI Holdings disclosed the completion of the transaction in a filing with the Pakistan Stock Exchange (PSX) on Wednesday. The acquisition was finalized on September 30, 2026, following the transfer of the purchase price under the Share Purchase Agreement previously signed with ICI Omicron B.V., a wholly owned subsidiary of Akzo Nobel N.V.
Regulatory Approvals and Minority Buyout Plans
The transaction concluded after fulfilling all necessary corporate and regulatory requirements, including receiving formal clearance from the Competition Commission of Pakistan (CCP), which greenlit the merger in August.
In addition to the majority stake, IGI Investments intends to acquire the remaining 1.69% stake held by minority shareholders through independent arrangements. Should this proceed, IGI will secure 100% full ownership of the enterprise.
Portfolio Expansion for Packages Group Affiliate
Akzo Nobel Pakistan is a prominent market leader in decorative paints and industrial coatings, maintaining a deep-rooted operational footprint across the country. The acquisition grants IGI Holdings direct exposure to domestic construction, automotive, and industrial consumer markets.
Originally disclosed in April—when Akzo Nobel Pakistan’s enterprise value was estimated at roughly Rs16.22 billion—the finalization shifts operational control under the Packages Group umbrella. This move broadens IGI’s asset base beyond conventional financial services into manufacturing and industrial production.
