en.Wedoany.com Reported - AkzoNobel has reached an agreement with IGI Investment Company to sell its Pakistani subsidiary to this enterprise affiliated with the Packages Group. The transaction amount is approximately PKR 16.2 billion, equivalent to €50 million. The enterprise valuation multiple for this deal reached 14 times EBITDA, reflecting a significant move in AkzoNobel's strategy to optimize its global market presence.

AkzoNobel CEO Greg Poux-Guillaume stated: "This divestment is a continuation of the company's strategic execution. We have built a solid business foundation in Pakistan, and I am confident that IGI Investment Company and the Packages Group can drive growth based on this foundation." This sale is part of AkzoNobel's plan to streamline its global portfolio and focus on core, high-priority markets. The company's Pakistan business primarily involves the decorative paints sector, and some paint activities will continue post-transaction through a licensing agreement.

Syed Hyder Ali, Chairman of IGI Investment Company, noted: "This acquisition is strategically significant. AkzoNobel Pakistan Limited possesses a deep industry heritage and a skilled team. We plan to invest in the company's future development, consolidate its market position, and create long-term value for the Pakistan paints industry." The transaction is subject to customary closing conditions and is expected to be completed in the second half of 2026. This move follows AkzoNobel's exit from the Indian market in December 2025, marking another step in the company's reshaping of its global business layout and shift towards higher-priority markets.

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