{"id":75993,"date":"2023-02-13T02:03:20","date_gmt":"2023-02-13T02:03:20","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/02\/13\/pif-now-owns-30-of-saudi-tabreed\/"},"modified":"2023-02-13T02:03:20","modified_gmt":"2023-02-13T02:03:20","slug":"pif-now-owns-30-of-saudi-tabreed","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/02\/13\/pif-now-owns-30-of-saudi-tabreed\/","title":{"rendered":"PIF now owns 30% of Saudi Tabreed"},"content":{"rendered":"

<\/a> KSA\u2019s sovereign wealth <\/strong>fund, the Public Investment Fund (PIF), has closed the acquisition of a 30% stake in <\/strong>Saudi Tabreed<\/a><\/strong> through a private placement that was first announced<\/a> in December, it confirmed in a statement<\/a> yesterday. Saudi Tabreed is the Saudi arm of DFM-listed National Central Cooling Company Tabreed<\/a>. The stake PIF acquired was estimated to be worth some USD 250 mn, Bloomberg<\/a> noted in December.<\/p>\n

About Tabreed and Saudi Tabreed:<\/strong> Saudi Tabreed currently manages some 779k tons of refrigeration in KSA through contracts with major companies including Aramco\u2019s Dhahran district cooling plant, the Jabal Omar district cooling plant in Mecca, the district cooling scheme at Riyadh\u2019s King Khalid International Airport, and a centralized cooling plant at Dhahran\u2019s Amaad business park, the statement notes. It\u2019s also the exclusive cooling services provider for the Red Sea Project<\/a>. Tabreed provides<\/a> district cooling services across the GCC region, with 86 plants currently in operation.<\/p>\n","protected":false},"excerpt":{"rendered":"

KSA\u2019s sovereign wealth fund, the Public Investment Fund (PIF), has closed the acquisition of a 30% stake in Saudi Tabreed through a private placement that was first announced in December, it confirmed in a statement yesterday. Saudi Tabreed is the Saudi arm of DFM-listed National Central Cooling Company Tabreed. The stake PIF acquired was estimated […]<\/p>\n","protected":false},"author":1,"featured_media":75994,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[11,660,79,159],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseclimate","tag-ma","tag-ma-watch","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"668bcb89-2935-456f-b0c4-495d50304ee0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/4843.jpg","photo_position":"above","related_issue":[75982],"teaser":"","voice_url":""},"yoast_head":"\nPIF now owns 30% of Saudi Tabreed - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/13\/pif-now-owns-30-of-saudi-tabreed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PIF now owns 30% of Saudi Tabreed\" \/>\n<meta property=\"og:description\" content=\"KSA\u2019s sovereign wealth fund, the Public Investment Fund (PIF), has closed the acquisition of a 30% stake in Saudi Tabreed through a private placement that was first announced in December, it confirmed in a statement yesterday. 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