Privatisation Commission prequalifies 10 parties for IESCO sale
The parties will move to the next transaction stage, including access to a virtual data room for due diligence. IESCO is in the first batch of DISCOs identified for privatisation.
At a glance
- The board prequalified 10 parties for IESCO's privatisation.
- The parties will proceed to virtual data room access and due diligence.
- IESCO is part of the first batch of DISCOs identified for privatisation.
- The board also approved decisions concerning FESCO, ZTBL and State Life.
Key facts
- IESCO prequalified parties
- 10
- Will proceed to the next transaction stage
- Transaction stage
- Virtual data room access
- For detailed due diligence
The Privatisation Commission Board has prequalified 10 interested parties for the privatisation of Islamabad Electric Supply Company Limited (IESCO), advancing the transaction to a stage that includes access to a virtual data room for due diligence. The decision was taken at the board's 260th meeting on Thursday, October 22.
| Interested party | Type | Consortium members |
|---|---|---|
| Aktor Elektrik Enerji Yatirimlari San. ve Tic. A.S. | Company, Türkiye | Not applicable |
| Genvera Enerji A.S. | Company, Türkiye | Not applicable |
| Cengiz Enerji Sanayii ve Ticaret A.S. | Company, Türkiye | Not applicable |
| Engro Energy Limited | Company | Not applicable |
| Artistic Milliners (Pvt) Limited Consortium | Consortium | The Lake City Holdings, Fatima Capital Limited, Din Ventures (Pvt) Limited, Fazal Cloth Mills Limited |
| Hub Power Holding Limited Consortium | Consortium | Lucky Cement Limited, Kohat Cement Limited, Metro Ventures (Pvt) Limited |
| Sapphire Fibers Limited | Company | Not applicable |
| Novatex Limited | Company | Not applicable |
| Bestway Cement Limited | Company | Not applicable |
| Hasnaat Brothers Construction Co. (Pvt) Limited Consortium | Consortium | Dhilal Holding Group, Pak Steel, Bio-Labs (Pvt) Limited, Farid Steel Casting (Pvt) Limited |
IESCO is among the first batch of power distribution companies identified for privatisation, alongside Faisalabad Electric Supply Company Limited (FESCO) and Gujranwala Electric Power Company Limited (GEPCO).
The board also approved the addition of consortium members to Artistic Milliners, which has been prequalified for FESCO's privatisation. The change allows the consortium to participate in Batch-I DISCO transactions, subject to applicable requirements.
For Zarai Taraqiati Bank Limited (ZTBL), the board approved changes to the transaction structure and restructuring plan, with the bank to retain its focus on agricultural and farmer financing after privatisation. It also ranked a Deutsche Bank-led consortium first for appointment as financial adviser to State Life Insurance Corporation of Pakistan and formed a committee to negotiate the advisory services agreement.
This story was produced by the Investify News Desk with automated tools and checked against the sources listed. Report an error: support@investify.pk. Editorial policy
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