AkzoNobel sells its Pakistani subsidiary to IGI Investments for 50 million euros
The Dutch paint and coatings manufacturer has completed the sale of Akzo Nobel Pakistan Limited to IGI Investments, an entity within the Packages group. The transaction, valued at approximately 50 million euros, is part of the group's ongoing portfolio review.
A divestment valued at 50 million euros for a 14 times EBITDA multiple
AkzoNobel has completed the sale of Akzo Nobel Pakistan Limited to IGI Investments (Pvt.) Limited, an entity attached to the Packages group, presented as one of Pakistan's most diversified conglomerates. The transaction is based on an enterprise value of approximately 50 million euros (16.2 billion Pakistani rupees), representing an EV/EBITDA multiple of 14 times. The transaction includes AkzoNobel's decorative paints and liquid coatings activities in Pakistan.
A milestone in the strategic portfolio review
According to Greg Poux-Guillaume, Chief Executive Officer of AkzoNobel, this closing represents a milestone in the execution of the group's ongoing strategic portfolio review. On the buyer's side, Syed Hyder Ali, Chief Executive Officer and Managing Director of Packages Limited, indicated that the immediate priority will focus on continuity for employees, customers, distributors and partners. The divestment is part of AkzoNobel's portfolio refocusing, currently concentrated on its decorative paint positions in Southeast Asia.
Following the sale of the Indian subsidiary in December 2025
This transaction follows the sale of Akzo Nobel India Limited, completed in December 2025. AkzoNobel states it is active in more than 150 countries and operates a portfolio of brands including Dulux, International, Sikkens and Interpon.
