IGI Holdings Limited has announced that its wholly owned subsidiary, IGI Investments (Private) Limited, has received in-principle approval from its board to evaluate and conduct due diligence for the purchase of up to 98.3% shareholding from ICI Omicron B.V. and up to 1.7% shareholding from minority shareholders of Akzo Nobel Pakistan Limited.
IGI Holdings shared this development through a notice to the Pakistan Stock Exchange (PSX) on Wednesday in accordance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1 of the Rule Book issued by the PSX.
“We have been informed by IGI Investments that its Board of Directors accorded its in-principle approval, in its meeting held on October 21, 2025 to evaluate and conduct a due diligence for the purchase of upto 98.3% shareholding from ICI Omicron B.V. (a wholly-owned subsidiary of Akzo Nobel NV) (“Substantial Shareholder”) and upto 1.7% shareholding from minority shareholders of Akzo Nobel Pakistan Limited,” read the notice.
The proposed transaction will be carried out subject to the results of satisfactory due diligence, finalisation of transaction structure, negotiation of purchase price with the Substantial Shareholder, execution of a definitive agreement and compliance with applicable laws and upon fulfilment of applicable corporate and regulatory approvals
