The Board of Directors of ICI Pakistan, today, decided that the company should be divided into two entities, both of which will be listed on the Karachi, Lahore and Islamabad Stock Exchanges. One such entity will be Akzo Nobel Pakistan (comprising the paints business) and the the other will be ICI Pakistan (retaining all other businesses of ICI Pakistan). The Board of Directors have also decided that separation of the paints business should be achieved through a demerger, sanctioned by the court, on the basis of financial statements. The demerger is contingent upon approval from shareholders, regulators and the High Court of Sindh.
