Key details:
- Engro Energy’s Asset Sale: Engro Energy Limited has signed a Share Purchase Agreement to sell its thermal energy assets to a consortium led by Liberty Power Holding.
- Portfolio Details: The sale includes Engro Energy’s stakes in Engro Powergen Qadirpur Limited, Engro Powergen Thar (Private) Limited, and Sindh Engro Coal Mining Company Limited.
- Transaction Values: The respective transaction values for the shareholdings are PKR 21.04 billion for EPTL, PKR 6.21 billion for SECMC, and PKR 7.5 billion for EPQL.
- Engro’s Energy Milestones: Engro has been pivotal in Pakistan’s energy sector, from utilizing flare gas to mining Thar coal and establishing power plants, impacting 9 million lives annually.
This agreement marks a significant shift in Engro’s business strategy, focusing on optimizing resources and capital allocation. Engro Corporation’s CEO expressed pride in their energy contributions and optimism for future growth and innovation through this strategic move. The Liberty Group also shared their vision for expanding and strategically allocating resources for the businesses’ continued growth and the betterment of Pakistan.
more at: Engro signs share purchase agreement for sale of thermal energy assets (nation.com.pk)
