Multiply Group concludes sale of PAL Cooling Holding for $1.05bln

First published: 13-Oct-2025 11:12:20

ES

ABU DHABI: Multiply Group, the Abu Dhabi-based investment holding company that invests in and operates businesses globally, announced today that it has formally completed the transaction to sell 100% of its shares in its district cooling subsidiary, PAL Cooling Holding, for AED3.871 billion to a consortium comprising Tabreed and CVC DIF.

By closing the transaction, Multiply Group has taken a further decisive step in its pursuit to unlock substantial value from its portfolio and to enhance its capacity to redeploy capital into new and existing verticals.

Commenting on the transaction, Samia Bouazza, Group CEO and Managing Director of Multiply Group, said, “The close of the PAL Cooling Holding agreement marks a deliberate exit and a natural liquidity event for Multiply Group. This is a strategic decision aligned with our disciplined investment framework.” 

PAL Cooling Holding is a leading player in the UAE’s district cooling sector, that currently operates five active district cooling plants across the country.

The company maintains 8 long-term concessions and strategic partnerships with some of the UAE’s leading real estate developers, servicing key residential, commercial, and mixed-use developments, most notably on Abu Dhabi’s Reem Island.

Multiply Group will continue to evaluate strategic opportunities across its verticals to enhance shareholder value.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.