Dubai – Mubasher: ENGIE acquired a 40% share in the National Central Cooling Co (Tabreed) from Mubadala for AED 2.8 billion, according to a bourse statement.
Mubadala will convert all of its mandatory convertible bonds into shares, with 1.086 billion of Tabreed’s shares being transferred to ENGIE at a price of AED 2.62 per share.
The remaining shares will be retained by Mubadala, bringing its total stake in Tabreed to 1.137 billion shares, or 42%.
