Arif Habib Reveals ‘New Acquirers’ of 69% Stake in Engro Powergen

There has been a change in the acquiring entities of Engro Powergen Qadirpur Limited (PSX: EPQL) who want to purchase 68.89 percent of its equity, manager to the offer Arif Habib Limited informed the main bourse on Wednesday. “We, Arif Habib Limited would like to inform, vide this Addendum to the Public Announcement of Intention a change in the acquiring entities from Liberty Mills Limited, Zain Ashraf Mukaty, Temoor Ashraf Mukaty, Ahmed Ashraf Mukaty, Soorty Enterprises Private Limited, Affinity Capital Private Limited, Najeeb Malik, Nadeem Malik, and Shahzad Malik to Liberty Power Holding (Private) Limited, Soorty Enterprises (Private) Limited, and Procon Engineering (Private) Limited for acquisition of up to 68.89% shares of the Target Company,” it said in a stock filing. AHL stated, “We hereby submit the Addendum on behalf of Liberty Power Holding (Private) Limited, Soorty Enterprises (Private) Limited, and Procon Engineering (Private) Limited (hereinafter referred to as the (“New Acquirer(s)”) for acquisition of up to 68.89% shares of the Target Company?. EPQL is an independent power producer that operates a 217 MW permeate gas-based plant in Qadirpur. Engro Corporation (PSX: ENGRO) through Rngro Energy Limited holds a 68.9 percent stake in EPQL.