Dentons advised National Central Cooling Company PJSC (Tabreed) on the deal.
National Central Cooling Company PJSC (Tabreed) executed its AED417 million (US$113.5 million) disposal of a 44% stake in Qatar District Cooling Company (Qatar Cool) to United Development Company. The proceeds of the transaction will be used to finance further growth of Tabreed’s portfolio in key markets.
This transaction follows Dentons’ role in advising Tabreed on the successful completion of a number of acquisitions in the UAE, including its acquisition of the equity interests of Mubadala Infrastructure Partners in the Maryah Island district cooling facilities in Abu Dhabi; the AED963 million (US$262.2 million) purchase of Aldar Properties’ district cooling assets on Abu Dhabi’s Saadiyat Island, which was one of the largest M&A transactions in the UAE and completed earlier this year; and the acquisition of Masdar’s district cooling assets serving Masdar City in Abu Dhabi.
Dentons team was led by UAE partner Iain Black (Picture) and Doha-based partner Zaher Nammour with support from associates, Jasem Alanizy (Dubai) and Joelle Salame (Doha) and paralegal Maryam Abbas (Dubai).
Law Firms: Dentons;
Clients: National Central Cooling Company;