IGI Holdings eyes complete acquisition of Akzo Nobel Pakistan

The proposed transaction involves purchasing up to 98.3% shareholding from ICI Omicron B.V., a wholly-owned subsidiary of Netherlands-based Akzo Nobel NV, and up to 1.7% from minority shareholders of the target company.

Akzo Nobel Pakistan Limited, an unlisted public company, is primarily engaged in manufacturing and selling paints and coatings in the Pakistani market.

The proposed transaction represents a potential complete takeover of the company's operations in the country.

IGI Holdings emphasized that the deal remains subject to several critical conditions, including:

• Satisfactory completion of due diligence
• Finalization of transaction structure
• Negotiation of purchase price with the substantial shareholder
• Execution of definitive agreements
• Obtaining necessary corporate and regulatory approvals
• Compliance with applicable laws

The Board of Directors of IGI Investments has authorized its Chief Executive Officer and directors to negotiate the purchase price, finalize the deal structure, and appoint legal and financial advisors for the due diligence process.

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