Global infrastructure investor CVC DIF has joined forces with Tabreed, the Abu Dhabi-based international district cooling provider, to acquire PAL Cooling Holding from Abu Dhabi’s Multiply Group in a deal valued at around AED 3.8 billion (USD 1.03 billion).
Established in 2006, PAL holds eight long-term concession agreements and strategic partnerships with prominent master developers, including Aldar Properties, Modon, and Imkan.
These agreements cover three concessions on Abu Dhabi’s main island and five on Al Reem Island. The transaction remains subject to standard regulatory approvals.
CVC DIF serves as the infrastructure division of private equity major CVC Capital Partners.
