Through a notice informing the Exchange, Kot Addu Power Company Ltd. (KAPCO) has announced that it is interested in acquiring 17.37% shares of Hub Power Company Ltd. (HUBCO).
The company in the notice has informed that in pursuance of the Board Approval, KAPCO has executed share purchase agreements for acquisition of the shares and intends to also procure/arrange debt financing for the acquisition.
The company is interested in acquisition of 201,084,105 shares approximately 17.37% in the HUBCO Company which are being divested by Dawood Hercules Corporation Ltd.
The transaction remains conditional on required corporate and regulatory approvals.
The purchase price for the shares is PKR 108.86 per share with a total price of 22,081,099,775/- Rupees.