China Is Paying $1.77 Billion To Buy 60% of Pakistan's Largest Disco

China Is Paying $1.77 Billion To Buy 60% of Pakistan’s Largest Disco

China’s State-backed Shanghai Electric Power Co. has agreed to buy 66% of Pakistan’s K-Electric for a whopping sum of about $1.77 billion. In a deal announced over the weekend, Shanghai Electric will be buying out Dubai company, Abraaj Group for a controlling shareholding in Pakistani utility K-Electric. K-Electric is said to have about to 2.5 […]

China’s State-backed Shanghai Electric Power Co. has agreed to buy 66% of Pakistan’s K-Electric for a whopping sum of about $1.77 billion.

In a deal announced over the weekend, Shanghai Electric will be buying out Dubai company, Abraaj Group for a controlling shareholding in Pakistani utility K-Electric.

K-Electric is said to have about to 2.5 million customers and is one of the largest Discos in the region.

Analysts opine that the customer base of K-Electric is probably a combination of electricity customers in Lagos, Benin and Abuja.

Source: Abraaj to Sell Stake in Pakistani Utility for $1.77 Billion