Shanghai Electric Company withdraws PAI to acquire 66.4% share capital of K-Electric

MG News | September 23, 2019 at 11:53 AM GMT+05:00

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September 23, 2019 (MLN): Shanghai Electric Power Company Limited has withdrawn the Public Announcement of Intention (PAI) for acquisition of up to 66.4% of the voting shares of K-Electric Limited.

A notification released by the manager to the offer, i.e. Arif Habib limited, stated that the time period for making the public announcement of offer had lapsed on September 21, 2019, on the basis that certain regulatory and other approvals for the transaction remained outstanding.

However, the noticed informed that Shanghai Electric Company would make a fresh PAI in accordance with the prescribed formalities with effect from the expiry date.

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