AkzoNobel has completed the sale of Akzo Nobel Pakistan Limited to IGI Investments (Pvt.) Limited, part of Pakistani conglomerate Packages Group, closing a transaction first announced in April at an enterprise value of approximately €50 million ($56.7 million), or 16.2 billion Pakistani rupees.
The deal represents an EV/EBITDA multiple of 14x and includes AkzoNobel’s decorative paints and liquid coatings businesses in Pakistan. Coatings activities that continue under Packages Group ownership will be subject to royalty payments to AkzoNobel, according to the April announcement. The sale closed within the second-half 2026 timeline given when the agreement was signed.
The divestment is
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