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Dubai Investments divests 50% stake in EMICOOL to Actis at a corporate valuation of US$ 1bln

By District Energy posted 04-13-2022 10:18




Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market (DFM) has entered a deal to divest a 50% stake in Emirates District Cooling Company (EMICOOL) to Actis - a leading global investor in sustainable infrastructure, at a corporate valuation of AED 3.7bn (US$1bn) and equity valuation of AED 2.4 bn (US$ 653mn). With an extensive network in multiple geographies, the JV is aimed at supporting Emicool in its vision towards becoming one of the leading providers of sustainable and efficient district cooling services in the wider MENA region.

The deal is counted as one of largest transactions in the district cooling industry in the MENA region. The transaction underpins the growing demand for district cooling in the region, crystalising significant value for Dubai Investments and testifies the Company’s strategy for value creation through competent partnerships.

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