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 […]
AkzoNobel to Sell Pakistan Subsidiary to Packages Group in €50 Million Deal
AkzoNobel has signed an agreement to sell Akzo Nobel Pakistan Limited to IGI Investments (Pvt.) Limited, part of Pakistan-based conglomerate Packages Group, in a transaction valued at 16.2 billion Pakistani rupees, or €50 million ($58.9 million). The deal represents an EV/EBITDA multiple of 14x. The Pakistan divestment is the next move in AkzoNobel’s strategic portfolio […]
AkzoNobel Opens New Coatings Plant in Pakistan
AkzoNobel (AKZA; AKZOY) announced the opening of a new €26 million ($28.1 million) manufacturing plant with its own forest in Faisalabad, Pakistan. The 25-acre site, which has facilities for making decorative paint, wood finishes, automotive and specialty coatings, coil coatings and protective coatings, will help to meet increasing customer demand across a variety of markets. […]