Abraaj inks deal to sell K-Electric stake to Shanghai Electric for $1.8b
The transaction is the largest M&A deal in Pakistan in a decade, and comes at a time of heightened Chinese interest in investing in the South Asian nation as part of its "One Belt, One Road" initiative.
Abraaj-controlled KES Power will divest the 66.4 percent stake subject to regulatory approvals being obtained.
"SEP will leverage its own strengths as a strategic investor and further realise K-Electric’s potential to provide better services to the people of Pakistan and the Government of Pakistan. SEP is confident about working together with Abraaj in the future to transform K-Electric into one of the best companies in Pakistan."
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