Engro Energy Limited (EEL) has recently finalized definitive agreements with Liberty Power Holding (Pvt.) Limited and other allied entities for the divestment of its entire shareholding in Engro Powergen Qadirpur Limited, Engro Powergen Thar (Private) Limited, and Sindh Engro Coal Mining Company Limited.
The announcement was made by Engro Corporation Limited (PSX: ENGRO), the parent organization of EEL.
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As per the agreements, EEL will offload its complete ownership interests, including a 68.9% stake in Engro Powergen Qadirpur Limited (EPQL), a 50.1% stake in Engro Powergen Thar (Private) Limited, and an 11.9% stake in Sindh Engro Coal Mining Company Limited (SECMC).
The transaction is valued at Rs7.5 billion for EPQL, Rs21.04 billion for EPTL, and Rs6.21 billion for SECMC, subject to certain adjustments specified in the definitive agreements.
The notice concludes by stating, “In case of any further material developments, the company shall keep the Exchange informed accordingly.”
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