Abraaj-backed KES Power to sell K-Electric for $1.77 bln

KES Power has agreed to sell its 66.4 percent stake in K-Electric to the Shanghai Electric Power Company Ltd for $1.77 billion. K-Electric, of Karachi, Pakistan, was formerly known as Karachi Electric Supply Company and is a publicly listed power utility involved in generation, transmission and distribution. KES Power is a portfolio company of the Abraaj Group.

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