Liberty Power Holding, Soorty Enterprises, and Procon Engineering have withdrawn their public announcement of intention to acquire a 68.89 percent stake in Engro Powergen Qadirpur Limited (PSX: EPQL).

According to Arif Habib Limited, the manager to the offer, the withdrawal follows the termination of the share purchase agreement due to an alleged material breach by the current owner, Engro Energy Limited.

The consortium’s withdrawal complies with Regulation 21(1)(b) of the Listed Companies Regulations of 2017. The acquisition plan was originally announced on December 3, 2024, and published in Business Recorder and Nawa-i-Waqt two days later.