Karachi: Shanghai Electric Power Co. has withdrawn its offer to buy up to 66.4 percent stake in K Electric.
In this regard, the Pakistan Stock Exchange was informed, the value of the shares is 18.33 billion rupees. Shanghai Power had been trying to buy K-Electric for several years.
Shanghai Electric first tried to buy shares of Ke Electric in 2016. The longest-running takeover offer by a company in Pakistan’s history has now ended.
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