Waves Singer Pakistan submits EOI to acquire 96.6% shares of Heavy Electrical Complex

MG News | February 01, 2021 at 02:08 PM GMT+05:00

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February 1, 2021 (MLN): The Board of Directors of Waves Singer Pakistan Limited have approved submission of an Expression of Interest (EOI) for the acquisition of 96.6% shares of Heavy Electrical Complex (Private) Limited (HEC) from the Government of Pakistan (GoP) by way of privatization process.

The above mention EOI will be followed by a detailed due diligence process (if the company is shortlisted) and completion of other necessary formalities. The results of the due diligence shall be placed before the Board for review and discussion and to resolve/approve further course of action in respect of the Transaction.

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