IGI Holdings Limited has announced that its subsidiary IGI Investments (Private) Limited has signed a Share Purchase Agreement to acquire a 98.31 percent stake in Akzo Nobel Pakistan Limited at an enterprise value of Rs. 16,224 million, according to a disclosure filed with the Pakistan Stock Exchange.

The disclosure stated that IGI Investments, a wholly-owned subsidiary of IGI Holdings, entered into the agreement with ICI Omicron B.V., a subsidiary of Akzo Nobel N.V., following approval from its board of directors in a meeting held on April 16, 2026.

The transaction is part of a proposed acquisition of shares in Akzo Nobel Pakistan Limited and will be completed subject to compliance with applicable laws and regulatory approvals, including clearance from the Competition Commission of Pakistan.

According to the disclosure, IGI Investments may also acquire up to an additional 1.69 percent stake from minority shareholders through separate arrangements, subject to legal requirements.

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. An initial valuation for the potential sale was reportedly discussed privately between the two sides, but both Packages Group and AkzoNobel declined to comment on the figure, noting that the deal has not yet been finalized.

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).