Restructuring: ICI demerges paints business

KARACHI: The board of directors of Imperial Chemical Industries (ICI) Pakistan Limited decided in May 2011 that the paints business of ICI will be separated from its parent and vested into another company, Akzo Nobel Pakistan Limited which will be listed on the Karachi, Lahore and Islamabad stock exchanges. The scheme of arrangement for the reconstruction of the company was approved by the shareholders at the Annual General Meeting on February 8 2012.

Published in The Express Tribune, June 6^th, 2012.