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People & Business :: M&A
AkzoNobel to Sell Stake in ICI Pakistan to Yunus Bros. for $152.5 Million
9:20 AM MDT | July 30, 2012 | Deepti Ramesh
AkzoNobel says it has reached an agreement to sell its 75.81% share of ICI Pakistan to the Yunus Brothers Group (KarÄchi, Pakistan) for $152.5 million. The price represents a premium of 30% on the market price when the local stock exchange closed on Friday, July 27, AkzoNobel says. The transaction is expected to be completed towards the end of this year, once regulatory approvals have been obtained and the purchaser has completed a legally required tender offer for at least 50% of the shares in ICI Pakistan held by the other shareholders, AkzoNobel says...
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