France's Engie buys 40% stake in UAE's Tabreed

By District Energy posted 06-24-2017 14:31

  

Baset Asaba, Utilities-ME
June 22, 2017

Summary

Engie SA (ENGIE.PA) has agreed to buy a 40% stake in Dubai's National Central Cooling Company (Tabreed) TABR.DU and help drive the company's expansion in emerging markets such as Turkey, India and Egypt.

Engie is buying the stake for 2.8 billion dirhams ($762 million) from Abu Dhabi state investor Mubadala Investment Co, making it Tabreed's second largest shareholder after Mubadala, which will retain 42%, the two companies said on Monday.

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