ISLAMABAD: The Privatisation Commission Board has approved the prequalification of nine parties interested in acquiring Gujranwala Electric Power Company (Gepco).
The decision was taken at a board meeting chaired by Adviser to the Prime Minister on Privatisation Muhammad Ali, where officials were informed that 11 expressions of interest (EoIs) had been received for the acquisition of 51 per cent to 100 per cent shareholding, along with management control of the power distribution company.
Following an evaluation of the submissions against the approved prequalification criteria, the financial adviser recommended nine interested parties for prequalification and advancement to the next stage of the transaction.
The shortlisted parties include three Turkish energy companies, as well as prominent Pakistani business groups and investment consortia, highlighting continued interest from both domestic and international investors in Pakistan’s electricity distribution sector.
The nine prequalified parties will now move to the next phase of the privatisation process. This will include access to the Virtual Data Room (VDR), enabling prospective investors to conduct detailed buy-side due diligence on Gepco.
The transaction will proceed in accordance with the approved privatisation process and applicable regulatory requirements.
Story by Amin Ahmed
