Dubai's Abraaj Capital buys into Karachi power firm: Reuters

By John Irish and Sahar Ahmed
DUBAI/KARACHI, Oct 15 (Reuters) - Private equity firm Abraaj Capital has bought a controlling stake in KES Power, the parent company of Karachi Electric Supply Co (KESC.KA: Quote, Profile, Research, Stock Buzz) (KESC), to boost generating capacity in Pakistan's largest city.
Dubai-based Abraaj, which manages about $5 billion in funds, said in a statement on Wednesday it was buying new shares in KES Power Ltd, giving Abraaj a 50-percent stake and management control of the firm.
Karachi is Pakistan's biggest city with a population of more than 13 million and is home to many industries, the country's two main ports and its main stock market.

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