Akzo Nobel NV: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
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Akzo Nobel NV Sells 75.81% Stake in ICI Pakistan Limited to Yunus Brothers Group
Akzo Nobel NV announced that it has reached an agreement to sell its 75.81% shareholding in ICI Pakistan Limited to the Yunus Brothers Group for USD 152.5 million (EUR 124.4 million). The price represents a premium of 30% on the market price when the local stock exchange closed on July 27, 2012. The price is subject to adjustments for cash/debt as at the date competition clearance is obtained and for interest from that date until closing. The transaction is expected to be completed towards the end of 2012, 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.
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