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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AEI Expands into Pakistan, Strengthens Asian Presence: Market Watch

HOUSTON, Jul 22, 2008 (BUSINESS WIRE) -- AEI announced today that it has acquired a controlling interest in DHA Cogen Limited (DCL), located in Karachi, Pakistan. Closing of the acquisition, which includes AEI's right to hold up to a 52.99 percent interest in DCL, occurred July 18. The terms of the transaction have not been disclosed.
While the transaction marks AEI's first venture into the Middle East, the DCL acquisition strengthens AEI's overall Asian presence. AEI recently acquired Luoyang Yuneng Sunshine Cogeneration Co., Ltd. in China, and previously acquired gas distribution franchises through the acquisitions of Beijing MacroLink Gas Co., Ltd. and Tongda Energy Private Limited.
"We are pleased to enter the Pakistani market and establish a presence in this fast-growing economy," Emilio Vicens, Vice President of Business Development, said of the transaction. "This acquisition strengthens our presence in Asia and demonstrates our commitment to growing AEI's platform in this region."

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