Pakistan Today

In October 2025, the Packages Group began the process to buy Akzo Nobel Pakistan: the manufacturer of ICI Dulux Paints. That deal, it seems, is done and dusted. In less than six months, Akzo Nobel did not stand up to the scrutiny of due diligence, and an earlier offer was revised downwards by as much as 40%. Within Packages, the deal was already unpopular. Syed Haider Ali, the head of the group and the heir to Syed Babar Ali, was keen on making the purchase but against the advice of his senior advisers. The running concern was that the paint business in Pakistan was too messy for a clean company like Packages to enter. On top of that, Akzo Nobel Pakistan is not the easiest company to acquire. Profit analysed Akzo Nobel’s financial statements for the past decade. They tell the story of a company suffering from margins tanking, volumes in tailspin, and a shrinking market share: essentially nothing to inspire confidence in a potential buyer. But Akzo Nobel still has something to offer potential buyers: legacy and assets. It is, after all, one of the last vestiges of Imperial Chemical Company (ICI) — the grand old Colonial era corporation that once defined the heights of corporate ambition in the subcontinent. And then there is all the land Akzo Nobel owns, including a prime slice of real estate in Lahore right outside Model Town on main Ferozpur road. Stretched over 88 kanals, that land alone is worth billions. So what will become of Akzo Nobel? How much was the deal valued at, and will they be able to get a similar price again? Why did the deal fall through in the first place? Will another paint manufacturer step up or will some other investor swoop in to acquire this once proud company which has fallen into disrepair? All of the details can be found in this week’s cover story. profit.pakistantoday.com.pk/…

Profit explains what exactly went behind the scenes that led to the drastic price drop of KIA Stonic in Pakistan, and what to expect next. #ProfitMagazine #KiaStonic #pama watch video: youtu.be/do5DYLAn_hc