United Energy Ltd. agreed to acquire an unknown stake in United Power Generation & Distribution Company Limited (DSE:UPGDCL) from United Enterprises & Company Ltd. and sponsors on October 29, 2017. The transaction has been approved by Board of Directors of United Power Generation & Distribution Company Limited and is subject to clearances from the Bangladesh Securities and Exchange Commission (BSEC) and after the compliance of the formalities as applicable under the Listing Rules of the Stock Exchanges. The transaction was approved by BSEC as of December 28, 2017.