IGI Holdings Limited has announced that its wholly owned subsidiary IGI Investments (Private) Limited, has entered into a share purchase agreement to acquire 98.31 percent stake in Akzo Nobel Pakistan Limited at an enterprise value of Rs. 16,224 million, according to a notice submitted to the Pakistan Stock Exchange.
The agreement has been signed with ICI Omicron B.V., a subsidiary of Akzo Nobel N.V., following completion of due diligence and board approval by IGI Investments.
The company has also indicated that it may acquire an additional 1.69 percent stake from minority shareholders, potentially increasing its total holding further, subject to applicable laws.
The company said the completion of the transaction will depend on fulfillment of all required corporate and regulatory approvals, as mandated under relevant provisions of the Securities Act, 2015 and PSX regulations.
IGI Holdings Limited first informed the Pakistan Stock Exchange in October 2025 that it was interested in acquiring Akzo Nobel Pakistan.
IGI Holdings Limited, the holding company behind Packages Group, operates as an investment firm that buys, holds, and sells securities and financial instruments in line with Pakistani laws. The company was incorporated as a public limited company in 1953 under the Companies Ordinance (now replaced by the Companies Act, 2017).