Lucky Cement, Hubco, Kohat Cement Form Consortium to Acquire GEPCO

Lucky Cement, Hubco and Kohat Cement Firm, along with Metro Ventures (Private) Limited, have formed a consortium to pursue the acquisition of a 51 percent to 100 percent equity stake in Gujranwala Electric Power Business Limited (GEPCO), according to separate disclosures filed.

Key points

• The consortium comprises Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Firm Limited and Metro Ventures (Private) Limited.
• Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
• Add as a preferredSource on Google Follow on Google News Join WhatsApp.
• The consortium has been prequalified by the Privatisation Commission and shortlisted to conduct financial, technical and legal due diligence on GEPCO.
• The firms stated neither the consortium nor the individual firms had entered into a binding commitment to acquire GEPCO.

For context, the consortium comprises Lucky Cement Limited, Hub Power Holdings Limited, Kohat Cement Firm Limited and Metro Ventures (Private) Limited. Hub Power Holdings is a wholly owned subsidiary of The Hub Power Firm Limited (Hubco).

Loss-Making SOEs Bleed Rs. 2.8 Billion a Day: Finance Ministry Report.

In practice, the consortium has been prequalified by the Privatisation Commission and shortlisted to conduct financial, technical and legal due diligence on GEPCO. It the administration is offering for privatization through a competitive bidding process.

Notably, the firms stated neither the consortium nor the individual firms had entered into a binding commitment to acquire GEPCO. Any commitment will depend on satisfactory completion of due diligence, the required corporate and regulatory approvals, and a determination that the transaction is commercially viable.

In practice, the consortium intends to conduct a comprehensive due diligence exercise and assess the viability of the potential acquisition before deciding on the next steps. Stay Connected with ProPakistani.

Obtain the latest business news, market insights, and economic updates wherever you prefer. Follow on Google Discover.

For now, lucky Cement, Hubco, Kohat Cement Form Consortium to Acquire GEPCO remains the part of the story worth watching, and further updates are likely as more details are confirmed.