Karachi, September 30, 2026: IGI Holdings Limited has announced the completion of its acquisition of a 98.31% stake in Akzo Nobel Pakistan Limited, marking the successful conclusion of a major corporate transaction.
According to a disclosure submitted to the Pakistan Stock Exchange, IGI Investments (Private) Limited, a wholly owned subsidiary of IGI Holdings, completed the transaction on September 30, 2026. The acquisition was made from ICI Omicron B.V., a wholly owned subsidiary of Akzo Nobel N.V.
The transaction follows the execution of a Share Purchase Agreement for the acquisition of the shares in Akzo Nobel Pakistan. IGI Investments paid a total purchase price of Rs. 15.246 billion to complete the deal.
Regulatory Requirements Completed
The completion of the acquisition followed the fulfillment of applicable corporate and regulatory requirements. The transaction also received clearance from the Competition Commission of Pakistan, allowing the parties to proceed with the completion of the share transfer.
The disclosure was made by IGI Holdings in accordance with the applicable requirements of the Securities Act, 2015 and the Pakistan Stock Exchange Rule Book. The company submitted the material information through its formal disclosure to the Pakistan Stock Exchange.
Plans for Remaining Shares
While IGI Investments has acquired 98.31% of Akzo Nobel Pakistan, the company has also stated that it intends to acquire the remaining 1.69% shares held by minority shareholders through separate arrangements.
The development represents a significant change in the ownership structure of Akzo Nobel Pakistan and expands IGI Holdings’ presence through its investment subsidiary.
The company disclosure, dated September 30, 2026, was signed by Mariam Ahmad, Company Secretary of IGI Holdings Limited, and submitted to the Pakistan Stock Exchange for dissemination among exchange members.
