{"id":89427,"date":"2025-03-14T00:00:00","date_gmt":"2025-03-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2025\/03\/14\/multiply-group-mulls-sale-of-district-cooling-unit\/"},"modified":"2025-03-14T00:00:00","modified_gmt":"2025-03-14T00:00:00","slug":"multiply-group-mulls-sale-of-district-cooling-unit","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2025\/03\/14\/multiply-group-mulls-sale-of-district-cooling-unit\/","title":{"rendered":"Multiply Group mulls sale of district cooling unit"},"content":{"rendered":"

<\/strong>Abu <\/strong>Dhabi-based an<\/strong>d ADX-listed investment firm Multiply Group is said to be mulling the <\/strong>sale of its district cooling unit <\/strong>Pal Cooling Holding<\/a><\/strong>, Bloomberg<\/a> reported on Monday, citing sources familiar with the matter. The firm has enlisted Standard Chartered to advise on the potential transaction which could see it rake in some USD 1 bn in proceeds, the people said. <\/p>\n

About Pal Cooling Holding:<\/strong> Founded in 2006, the Abu Dhabi-based firm owns and operates a portfolio of central cooling plants that supply chilled water for air conditioning at various stages of development, according to its website<\/a>. Pal has long-term contracts to supply over 600k tons of refrigeration (TR) of cooling. The company is currently constructing<\/a> a cooling plant in Najmat with 49k RT installed capacity. <\/p>\n

District cooling acquisitions history in UAE:<\/strong> Big players in the UAE market have been expanding their market share through acquisitions. Mubadala-backed Tabreed acquired an 80% stake<\/a> in Emaar Properties\u2019 district cooling unit in 2020, and DFM-listed Dubai-based Empower snapped up the Dubai International Airport\u2019s district cooling assets<\/a> in 2023 and has recently been on an acquisition spree for more district cooling units<\/a> across the country. <\/p>\n

IN OTHER M&A UPDATES- <\/p>\n

Mubadala offloaded its indirect stake in Calisen \u2014 a UK-based provider of smart <\/strong>meters and small-scale energy transition infrastructure,<\/strong> according to a press release<\/a> published on Monday. The move caps a four-year PE investment cycle alongside a consortium of other investors who took the company private for GBP 1.43 bn in 2020. It\u2019s noteworthy that Private equity firm EQT and Singapore's sovereign wealth fund GIC purchased a majority stake in Calisen in December 2024<\/a> from the consortium, valuing the company at around GBP 4 bn at the time. Information about the value of the exit gain wasn\u2019t disclosed.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Mubadala offloads indirect Calisen stake<\/p>\n","protected":false},"author":1,"featured_media":89428,"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":[199,11,79,50,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-district-cooling","tag-enterpriseclimate","tag-ma-watch","tag-mubadala","tag-uae","wpautop","entry"],"acf":{"mongo_id":"e40107af-0441-4f77-99d6-4db18730f87a","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/1115.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Multiply Group mulls sale of district cooling unit","related_issue":[89416],"teaser":"PLUS: Mubadala offloads indirect Calisen stake","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.e1a20d3f-0a38-4043-a6c5-ee0c49d6054d.mp3"},"yoast_head":"\nMultiply Group mulls sale of district cooling unit - 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