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AkzoNobel completes sale of AkzoNobel Pak to Packages Group
LAHORE: AkzoNobel has completed the sale of Akzo Nobel Pakistan Limited to IGI Investments (Pvt) Limited which is part of the Packages Group, one of Pakistan’s most diversified conglomerates. The transaction is based on a total enterprise value of approximately €50 million (PKR 16.2 billion), representing an EV/EBITDA multiple of 14x, and includes AkzoNobel’s Decorative Paints and Liquid Coatings businesses in Pakistan. “Today’s closing is another important milestone in the execution of our ongoing strategic portfolio review,” says Greg Poux-Guillaume, CEO of AkzoNobel. “We’re grateful to our ...
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