CCP Approves IGI Investments’ Acquisition of Stake in Akzo Nobel Pakistan
ISLAMABAD, (APP - UrduPoint / Pakistan Point News - 25th Aug, 2026) The Competition Commission of Pakistan (CCP) has approved the acquisition of shareholding in Akzo Nobel Pakistan Limited by IGI Investments (Private) Limited from ICI Omicron B.V. following a Phase-I competition assessment.
IGI Investments, a wholly owned subsidiary of IGI Holdings Limited, is incorporated in Pakistan and serves as the strategic investment arm of the IGI Group. It manages key investments, including the acquisition and holding of equity and debt securities.
Akzo Nobel Pakistan Limited is engaged in the manufacture and sale of coatings in Pakistan. For its assessment, the CCP identified decorative coatings (paint) and industrial coatings as the relevant product markets, with Pakistan as the relevant geographic market.
The seller, ICI Omicron B.V., is a private limited liability company incorporated in the Netherlands and a subsidiary of Akzo Nobel N.V. It serves as a holding investment vehicle for investments in the decorative and industrial coatings markets.
The CCP's assessment found that the proposed transaction would not result in any horizontal overlap or vertical relationship in the relevant markets in Pakistan, leading to increased market share or market concentration. The Commission further observed that the relevant market is fragmented, and the transaction is unlikely to create entry barriers or materially enhance the market power of the merger parties.
Consequently, the Commission concluded that the transaction would not create or strengthen a dominant position in the relevant market and approved it under Section 31 of the Competition Act, 2010. The CCP also noted that certain ancillary restrictions in the agreement may require exemption under Section 5 of the Competition Act, read with the Competition Commission (Exemption) Regulations, 2020.
The CCP remains committed to an efficient and transparent merger review regime that facilitates investment and business activity while safeguarding competitive markets and consumer welfare in Pakistan.