Abu Dhabi Utility Tabreed Considers More Deals After Buying PAL

Abu Dhabi Utility Tabreed Considers More Deals After Buying PAL

Abu Dhabi-based utility National Central Cooling Co. sees scope for further acquisitions after announcing a $1 billion deal to buy another air-conditioning provider in the United Arab Emirates capital.

CVC, Tabreed to acquire Multiply Group’s PAL Cooling Holding

Global private equity firm CVC, through its CVC Diversified Infrastructure Fund (CVC DIF), has entered into a strategic partnership with National Central Cooling Company PJSC (Tabreed) to acquire PAL Cooling Holding from Multiply Group, with the transaction implying an equity valuation of approximately AED3.8bn ($1.03bn), according to a report by Reuters. The acquisition, announced in a joint statement by CVC DIF, Tabreed, and Multiply Group, re…

CVC and Tabreed acquire PAL Cooling Holding from Multiply Group

CVC, a global private markets manager, and Tabreed have partnered to acquire PAL Cooling Holding from Abu Dhabi’s Multiply Group. The transaction, valued at US $1.035bn, includes three long-term concessions in the Abu Dhabi main island area and five on Al Reem Island. These actions are serviced by five existing, sustainable district cooling plants and associated networks in Abu Dhabi, with a combined capacity of 182,000 refrigeration tons (RT) a…

CVC and Tabreed To Buy PAL Cooling For $1B - USA Herald

In a billion-dollar blaze of financial frost, CVC Capital Partners and Abu Dhabi-based Tabreed have struck a landmark deal to acquire PAL Cooling from Multiply Group for 3.8 billion UAE dirhams (roughly $1 billion), both companies announced Monday. The acquisition reflects a high-stakes bet on the Middle East’s surging real estate expansion and an urgent CVC and Tabreed to buy PAL Cooling in $1B deal, fueling UAE’s sustainable cooling infrastruct

CVC DIF and Tabreed Partner to Buy PAL Cooling Holding in AED 3.8 Billion Deal

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Dubai-listed Tabreed expects significant boost in cooling capacity after PAL Cooling’s buyout

PAL Cooling’s nine plants and eight concessions expected to add nearly 600,000 RT