Partnership Agreement to acquire “Pal Colling”

Both the company “Booking”, which specializes in cooling regions and CVDI, announced the strategic infrastructure field, which is affiliated with CVC, which specializes in managing private global markets, announced their partnership to acquire the Pal to cooling the regions, which is affiliated with the “Mustablay” group in Abu Dhabi, with a deal subject to official relevant approvals.

The value of the acquisition represented by the rights of the ownership of the company is estimated at 3.8 billion dirhams, and the deal includes eight long -term privileges, three of which are in Abu Dhabi, five in Al -Reem Island, currently served by five sustainable stations to cool the areas through the networks associated with it, along with a station under construction, and three others in the planning stage.

The Chairman of the Board of Directors of the “Reading” company, Dr. Bakhit Al -Kathiri, said that the acquisition of the “Pal Colling” company to cool the regions in partnership with the CVDIF is completely in line with the strategic goals of “Reading”, and with its willingness to adapt to the ambitious real estate projects in Abu Dhabi.

For his part, CEDIF, Jess Voskwell, expressed his confidence that the acquisition of Pal Colling: “A high -quality investment will provide rewarding returns for investors, while providing capabilities for long -term growth in conjunction with creating sustainable value.”