KARACHI: Chinese multinational Shanghai Electric is set to buy the K-Electric utility serving Pakistan’s biggest city of Karachi, in a $1.6 billion deal that will be the biggest private-sector acquisition in the country’s history.
Tag "Abraaj Group"
SHANGHAI, CHINA: China’s state-backed Shanghai Electric Power said it is bidding to acquire a stake in Pakistani utility K-Electric Limited, formerly known as Karachi Electric Supply Company Limited, which has a total market value of $2.3 billion.
REUTERS: Abraaj Group has mandated Citigroup to evaluate options for its indirect stake in Pakistani utility K-Electric, the Dubai-based private equity firm said on Monday. Abraaj bought a controlling stake in KES Power, the majority shareholder in K-Electric, in 2009.