CVC DIF and Tabreed have formed a strategic partnership to acquire PAL Cooling Holding from Multiply Group for $1.03 billion. This deal underscores their commitment to investing in sustainable solutions in the Gulf region. The acquisition focuses on district cooling, an industry that is gaining traction due to the UAE’s extreme temperatures and the efficiency...
Engie-backed National Central Cooling, commonly known as Tabreed, along with private equity firm CVC, is currently in exclusive discussions to acquire the district cooling business of Abu Dhabi-based Multiply Group. This deal is anticipated to value the unit at over $1 billion, as reported by two sources familiar with the negotiations. According to one of...
Abu Dhabi-based Tabreed, a prominent district cooling company, has successfully raised $700 million through its inaugural five-year green sukuk. This issuance marks the first under the company’s new $1.5 billion trust certificate issuance program. The sukuk will be listed and traded on the London Stock Exchange’s International Securities Market. The issuance saw strong institutional demand,...