ABRAAJ TO CONSIDER OPTIONS FOR PAKISTAN K-ELECTRIC STAKE – RTRS

17 views

1 min read

DUBAI, June 30 (Reuters) – Abraaj Group has mandated Citigroup to evaluate options for its indirect stake in Pakistani utility K-Electric , the Dubai-based private equity firm said on Monday.

Abraaj bought a controlling stake in K-Electric , the majority shareholder in K-Electric, in 2009.

Karachi-based K-Electric made a net profit of $70 million in 2013, Abraaj said. This compares with a net loss of $197 million in 2009.

KES Power holds a 69.2 percent stake in K-Electric, according to a company presentation this month. The Pakistani government owns 24.4 percent.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

View all posts