Within the portfolio of thermal energy assets, a merger proposal has been authorized by the Competition Commission of Pakistan (CCP). In this deal, M/s Engro Energy Limited and a consortium are buying around 50.10 percent of M/s Engro PowerAgent Thar (Pvt.) Limited.
A consortium made up of M/s Liberty Power Holding (Pvt) Limited, M/s Sporty Enterprises (Pvt) Limited, and M/s Procon Engineering (Private) Limited has entered into a share purchase agreement (SPA) with Engro Energy Limited, a wholly owned subsidiary of Engro Corporation Limited, in order to sell its thermal energy assets. Engro, which has made significant contributions to Pakistan’s energy sector, is selling its thermal assets in order to simplify and maximize the distribution of money and resources.
The primary objective of Liberty Power Holding, a newly founded private limited company, is to oversee the power producing firms that are part of the Liberty Group. Procon Engineering manufactures foam goods, non-woven textiles, and automotive parts, whereas Sporty Enterprises is a private limited firm that manufactures and sells denim items.
