AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Arif Habib Limited, acting as the Manager to the Offer for Shanghai Electric Power Company Limited’s proposed acquisition of K-Electric, has announced the lapse of the public announcement period without achieving the necessary approvals. The intended acquisition would have involved a major stake of 66.4% in K-Electric.
Despite extending the deadline, the required regulatory and other approvals were not obtained, leading to the official withdrawal of the public announcement of intention as of April 20, 2024. This action ensures compliance with relevant regulations, preserving the integrity of the transaction process under the stringent oversight mandated by Pakistani financial laws.