Liberty Mills Limited, along with associated parties Soorty Enterprises (Private) Limited, and Procon Engineering (Private) Limited, has submitted a fresh Public Announcement of Intention (PAI) to acquire 68.89% of the ordinary shares of Engro Powergen Qadirpur Limited, according to a stock filing on Tuesday.
Arif Habib Limited is acting as the Manager to the Offer for this transaction.
The new announcement follows the withdrawal of a previous PAI issued on November 22, 2024.
The revised PAI will be published in daily newspapers on December 5, 2024, in accordance with regulatory requirements.
The company has provided the necessary documents along with the PAI and assured that it will comply with the applicable legal framework. Stakeholders or interested parties seeking further information have been advised to contact Arif Habib Limited.
On November 22, Liberty Mills and its associated parties withdrew their public announcement of intention to acquire a 68.89% stake in Engro Powergen Qadirpur.
The Competition Commission of Pakistan (CCP) also recently approved the acquisition of 11.9% shareholding in Sindh Engro Coal Mining Company (SECMC) by International Electric Power (Private) Limited, established in March 2024 for this transaction.
This acquisition, valued at Rs 6.21 billion, was part of a broader divestment strategy by Engro Energy Limited, including shares in SECMC, EPQL, and Engro Powergen Thar Limited (EPTL).
