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Abraaj mulling options for Pakistan utility stake

: Tuesday, July 01 - 2014 @ 03:00

Dubai-based private equity firm, Abraaj Group has hired Citigroup Inc. to evaluate “strategic options” for its stake in K-Electic Ltd, an integrated power utility in Pakistan, Bloomberg has reported. Abraaj had acquired a controlling share in K-Electric in 2009 through its investment in KES Power Ltd, the majority shareholder of K-Electric, it said. KES Power’s 77% stake in K-Electric, the monopoly power supplier in Karachi, is valued at $1.64bn at yesterday’s closing price.

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Tuesday, July 1- 2014 @ 3:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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