Yunus Brothers Group to Acquire 75.81% Stake in ICI Pakistan from AkzoNobel for $152.5 Million New Report
Yunus Brothers (YB) Group, a Pakistan-based industrial conglomerate, has signed an agreement to acquire majority shareholding in ICI Pakistan, a manufacturer of polyester fiber, Partially Oriented Yarn (POY) chips, soda ash and specialty chemicals, from AkzoNobel for a purchase consideration of $152.5m. After the acquisition, a consortium of YB Group companies will jointly hold a 75.81% stake in ICI Pakistan. Lucky Cement Limited will be the largest stockholder among all the group companies with half of the acquired stake. The...
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