上海电力：终止重大资产购买

Core Points - Shanghai Electric announced a cash acquisition of K-Electric Limited from KES Power Ltd for a total consideration of $1.77 billion, representing 66.40% of K-Electric's total issued share capital [1] - The company decided to terminate the acquisition due to the failure of the counterparty to meet the closing conditions and changes in the business environment in Pakistan, which no longer aligned with the company's international development strategy [1] - The termination of the acquisition was based on the rights outlined in the Share Purchase Agreement, specifically due to KES Power's failure to satisfy the prerequisite conditions [1] Summary by Sections Acquisition Details - Shanghai Electric planned to acquire 18,335,542,678 shares of K-Electric Limited for $1.77 billion, with an additional potential incentive of up to $27 million based on the company's operational performance [1] Termination Reasons - The decision to terminate the acquisition was made after careful analysis, as the counterparty did not meet the necessary closing conditions, and the changing business environment in Pakistan was deemed unfavorable for the company's international strategy [1] Legal Basis for Termination - The company exercised its right to terminate the agreement based on Article 4.1 and Article 4.8 of the Share Purchase Agreement, which allowed for termination due to unmet conditions [1]