IGI Holdings completes acquisition of 98% stake in Akzo Nobel Pakistan

According to Mettis Global, IGI Holdings Limited (PSX:IGIHL) closed its deal to buy 98.31% of Akzo Nobel Pakistan Limited on September 30, 2026. The holding company's wholly-owned unit, IGI Investments (Private) Limited, paid Rs15.246 billion for the shares. It informed the Pakistan Stock Exchange of the completion through a notice filed under several provisions of the Securities Act, 2015 and the PSX Rule Book.

The shares came from ICI Omicron B.V., a wholly-owned subsidiary of Akzo Nobel N.V., under a Share Purchase Agreement that had been disclosed earlier on April 16, 2026. Closing occurred only after every legal, corporate and regulatory condition was satisfied, including clearance from the Competition Commission of Pakistan.

Beyond this purchase, the subsidiary intends to buy the 1.69% balance now owned by minority holders via separate deals. The report did not provide further detail on the timing or terms of those arrangements.