The Hub Power Company Limited (HUBCO) has disclosed that its wholly owned subsidiary, Hub Power Holdings Limited, has joined a consortium of prominent corporate entities to explore the potential acquisition of a stake in Gujranwala Electric Power Company (GEPCO), which is being offered for privatization by the Government of Pakistan.
According to a material information disclosure submitted to the Pakistan Stock Exchange (PSX) on October 7, 2026, the consortium includes Hub Power Holdings Limited, Lucky Cement Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited.
The consortium has submitted an Expression of Interest and a Statement of Qualification for the proposed acquisition of a 51% to 100% equity stake in GEPCO, along with management control. The proposed transaction is part of the government’s ongoing privatization process aimed at transferring ownership and operational control of the power distribution company through a competitive bidding mechanism.
Consortium Shortlisted for Due Diligence
HUBCO stated that the consortium, together with other interested parties, has been pre-qualified by the Privatisation Commission and shortlisted to conduct financial, technical, and legal due diligence on GEPCO.
This stage will allow the consortium to examine the company’s financial position, operational performance, legal matters, and overall suitability for a potential acquisition before deciding whether to proceed further.
The equity stake in GEPCO will ultimately be offered through a competitive bidding process in accordance with applicable privatization laws.
No Binding Commitment Yet
HUBCO clarified that neither the company nor the consortium has entered into any binding commitment with any party regarding the acquisition of an equity stake in GEPCO.
Any potential transaction would depend on the satisfactory completion of due diligence, receipt of all necessary corporate and regulatory approvals, and a determination that the transaction is commercially viable.
The company emphasized that its current intention is limited to undertaking a comprehensive due diligence exercise and evaluating the viability of the potential acquisition opportunity.
Potential Significance for Pakistan’s Power Sector
The development brings together companies from the energy, cement, and investment sectors to evaluate an opportunity in Pakistan’s electricity distribution industry.
If the consortium eventually proceeds with a successful bid, the acquisition could have implications for the ownership and management of GEPCO. However, the outcome will depend on the due diligence findings, the competitive bidding process, regulatory requirements, and the consortium’s final decision.
For investors, the disclosure is important because it signals HUBCO’s involvement in evaluating a potential investment beyond its existing power-generation operations. Nevertheless, the announcement does not confirm that an acquisition will take place or establish the financial terms of any prospective transaction.
Conclusion
HUBCO and its consortium partners have reached the pre-qualification and shortlisting stage in the process to explore the acquisition of a 51% to 100% stake in GEPCO, including management control. The consortium will now have the opportunity to conduct detailed due diligence and assess the commercial feasibility of the proposed investment.
As the privatization process moves forward, investors and market participants will be watching for further announcements regarding due diligence, bidding arrangements, regulatory approvals, and any eventual decision by the consortium.
