3 buyers of ICI

Three companies have shown interest in acquiring 70 million, or 75.81 percent shares of ICI Pakistan on Monday, according to notices available with the Karachi Stock Exchange.

 Lucky Cement Limited, Nishat Mills Limited, and Fajr Capital of Dubai have shown interest in acquiring 70,019,459 shares, or 75.81 percent shares of the issued and paid-up capital of ICI Pakistan, from ICI Omicron B.V., notices said.

 The due diligence, with intentions to acquire the company, is being conducted under the Listed Companies (Substantial Acquisitions of Voting Shares and Takeovers) Regulations 2002 and 2008.

 Earlier, the Sindh High Court has approved the demerger of ICI paints business from its other businesses last week. Accordingly, Akzo Noble Pakistan Limited would be running the paints business as a separate entity.

3 buyers of ICI