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Akzo Nobel announces sale of its Pakistan business to Packages Group
Akzo Nobel has reached an agreement to divest its Pakistan operations to Packages Group, marking a strategic move to streamline its global portfolio. The deal aligns with the company’s focus on core markets and sustainable growth.
The divestment includes all assets and operations of Akzo Nobel Pakistan. Packages Group, a diversified conglomerate with a strong footprint in the region, will take over the business, ensuring its continuity and further development.
Strategic focus on core markets and sustainable growth
Akzo Nobel stated that the decision to divest its Pakistan business was guided by the company’s overarching strategy to focus on high-growth markets and sectors where it can maximise value creation. The move allows Akzo Nobel to redirect resources towards segments that align with trends in innovation and sustainability within the paints and coatings industry.
The company also emphasised its commitment to ensuring a smooth transition for customers and employees. “We are confident that Packages Group is well-positioned to build on the foundation we have established in Pakistan,” Akzo Nobel remarked.
