Shanghai Electric Power Company failed to acquire a 66.4% stake in K-Electric for $1.77bn.

Shanghai Electric Power Company, an electric services company, failed to acquire a 66.4% stake in K-Electric, an energy company in Pakistan, for $1.77bn. Shanghai Electric has been in talks to acquire a stake in KE for more than half a decade. The deal has been repeatedly delayed due to regulatory approvals and liquidity constraints as a consequence of mounting circular debt in the country’s power sector.