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Shanghai Electric Cancels $1.77 Billion Deal with K-Electric
Shanghai Electric Power (SEP) has officially ended its $1.77 billion agreement to buy a 66.4% majority stake in K-Electric (KE) from KES Power Ltd. The deal had been under discussion for several years but was repeatedly delayed because certain conditions were not met and regulatory approvals were not secured. In its formal announcement to the Shanghai Stock Exchange, SEP explained that Pakistan’s changing business climate, along with differences…
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Shanghai Electric Cancels $1.77 Billion Deal with K-Electric
Shanghai Electric Power (SEP) has officially ended its $1.77 billion agreement to buy a 66.4% majority stake in K-Electric (KE) from KES Power Ltd. The deal had been under discussion for several years but was repeatedly delayed because certain conditions were not met and regulatory approvals were not secured. In its formal announcement to the Shanghai Stock Exchange, SEP explained that Pakistan’s changing business climate, along with differences…
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