Financial Advisors for Privatisation of IESCO and LESCO selected

10 March, 2015

The Privatisation Commission today signed the Financial Advisory Services Agreement (FASA) with a consortium led by BMA Capital, China Development Bank Securities and Pak China Investment Company for privatisation of Islamabad Electric Supply Company Limited (IESCO) and Lahore Electric Supply Company Limited (LESCO).

Speaking on the occasion, the Secretary, Privatisation Commission Sardar Ahmad Nawaz Sukhera, stated “It is imperative to privatise DISCOs and GENCOs as soon as possible since there is no other way to revitalise the faltering system. LESCO & IESCO have very good prospects and investors should take advantage of these investment opportunities.”

On the occasion, Mr. Moazzam M. Malik, Chairman & CEO of BMA Capital said “BMA Capital has been committed to the country’s privatisation program since 1992. We are delighted at the opportunity to work on transactions that will play a very important role in the government’s plan for alleviating energy sector inefficiencies and would help the government in meeting its economic targets.”

BMA Capital is the premier Corporate Finance & Advisory firm in Pakistan. The firm has executed in excess of US$ 12 billion in advisory mandates and over 50% of all privatisation transactions (by value) in Pakistan. These include landmark transactions of US$2.6 billion privatisation of PTCL (the largest FDI into Pakistan till date), US$1.6 billion KAPCO privatisation (largest privatisation of Asia at the time), US$ 811 million OGDCL GDR, US$ 898 million PTCL GDR to name a few. BMA Capital is the only Pakistan based firm to be recognized in the International Mergers & Acquisitions League Tables (Bloomberg, Thomson and FactSet) alongside major bulge bracket investment banks to the likes of Goldman Sachs, Citigroup, JP Morgan, Merrill Lynch & Co and Credit Suisse.

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