Dubai – Mubasher: The Abraaj Group announced Monday that Abraaj-controlled firm KES Power has concluded a definitive agreement to sell its 66.4% shareholding in K-Electric to the Shanghai Electric Power Company Limited (“SEP”), according to an online press release on Sunday.
The divestment was made at $1.77 billion, the press release revealed.
"Upon completion, this will be one of the largest private sector transactions in Pakistan and represent one of the global power industry’s most well-recognized operational turnaround stories", said the company.
