AkzoNobel completes demerger

AkzoNobel has completed the restructuring of its activities in Pakistan by formally establishing AkzoNobel Pakistan Limited as a separate legal entity from ICI Pakistan. The split means that the company has started the formal sale process to divest its 75.81% shareholding in ICI Pakistan.

The new AkzoNobel Pakistan Limited business is focused on three core areas – decorative paints, performance coatings and speciality chemicals. An appropriate management and organisational structure is currently being finalised, with Jehanzeb Khan having been appointed as CEO.