MG Morning Breeze: Updates to Skim before Market
Mettis Global • • 1 min read
Lucky Cement Limited (PSX:LUCK) has formed a consortium with Hub Power Holdings Limited, Kohat Cement Company Limited and Metro Ventures (Private) Limited. According to Mettis Global's Morning Breeze, the group has filed an expression of interest and a statement of qualification to buy between 51% and 100% of the equity in Faisalabad Electric Supply Company Limited (FESCO), together with management control. The Government of Pakistan is divesting the electricity company as part of a privatisation drive.
The step is an initial submission, not a completed purchase. Hub Power Holdings and Kohat Cement Company are the other named members, linking the bid to the power and cement sectors. The item is one of several updates that Morning Breeze curated from the preceding day.
At a glance
- Lucky Cement, Hub Power Holdings, Kohat Cement and Metro Ventures formed a consortium.
- The group submitted an Expression of Interest for 51% to 100% of FESCO's equity.
- FESCO is being offered for divestment by the Government of Pakistan through privatisation.
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Originally reported by Mettis Global
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