Sapphire Fibres to acquire 50% shares in UCH Power Ltd through major transaction

Sapphire Fibres Limited has disclosed a significant transaction involving the acquisition of 50% shares in two power companies, UCH Power (Private) Limited and UCH-II Power (Private) Limited. 

According to the notification filed with the Pakistan Stock Exchange (PSX), the transaction involves the transfer of shares previously owned by UPLHC I Limited, UPLHC II Limited, and International Power UCH Holdings B.V. to Sapphire Fibres.

The transaction also includes the transfer of shares in the name of Sapphire Fibres Limited. The acquisition aligns with the company’s strategic move into the energy sector.

This move is expected to bolster the company's portfolio and broaden its investment base, which may lead to new growth opportunities in the energy sector.