AkzoNobel completes sale of Pakistan business to Packages Group
- Akzo Nobel Pakistan Limited has been sold to IGI Investments (Pvt.) Limited, part of the Packages Group.
- The transaction values the business at approximately €50 million (16.2 billion PKR) and reflects an EV/EBITDA multiple of 14x.
- The deal includes AkzoNobel’s Decorative Paints and liquid Coatings businesses in Pakistan.
- The divestment is part of AkzoNobel’s portfolio refocus on Decorative Paints in South East Asia and follows the sale of its India unit in December 2025.
Deal completed
AkzoNobel has completed the sale of Akzo Nobel Pakistan Limited to IGI Investments (Pvt.) Limited, which is part of the Packages Group.
Scope and price
The transaction covers AkzoNobel’s Decorative Paints and liquid Coatings businesses in Pakistan and is based on an enterprise value of approximately €50 million (16.2 billion PKR), representing an EV/EBITDA multiple of 14x.
Strategic context
The divestment is presented as part of AkzoNobel’s ongoing portfolio refocus, currently centered on the company’s Decorative Paints positions in South East Asia. It follows the recent sale of Akzo Nobel India Limited, completed in December 2025.
Management comments
AkzoNobel’s CEO described the closing as an important milestone in the portfolio review and expressed confidence in the Packages Group’s ability to develop the business. Packages Limited’s CEO said the acquisition strengthens their position in Pakistan, emphasised continuity for employees, customers, distributors and partners, and thanked AkzoNobel for a constructive transaction process.
Source: AkzoNobel