Shanghai Electric Withdraws from $1.7bn K-Electric deal

MG News | September 10, 2025 at 09:21 AM GMT+05:00

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September 10, 2025 (MLN): Shanghai Electric has officially terminated its long-pending plan to acquire a majority stake in Pakistan’s K-Electric, citing unmet closing conditions and a shift in strategic priorities.

The $1.7 billion deal, which would have transferred 66.4% ownership of the Karachi-based utility to the Chinese conglomerate, was originally rooted in a 2016 agreement valued at $1.8 billion.

However, nearly a decade later, Shanghai Electric announced its withdrawal, attributing the decision to evolving business conditions in Pakistan and a misalignment with its current development strategy.

The move marks a significant turn in Pakistan’s energy sector, where foreign investment has faced increasing headwinds.

Shanghai Electric’s exit indicates the challenges of navigating regulatory frameworks and economic volatility in emerging markets.

K-Electric has yet to issue a formal response to the termination.

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