Emicool eyes AED 300m cooling business acquisition

Dubai – Mubasher: Dubai Investments’ unit, Emirates District Cooling (Emicool) is planning to take over a cooling corporation in an AED 300 million deal, the parent company’s managing director and CEO Khalid Bin Kalban told CNBC Arabiya on Monday.

Dubai Investments expects to offer Emicool’s shares on the Dubai Financial Market (DFM) by the end of 2018, the CEO added.

Union Properties last announced that it had sold all of its 50% stake in Emicool to Dubai Investments in a total consideration of AED 500 million.

Mubasher Contribution Time: 22-Jan-2018 12:18 (GMT)
Mubasher Last Update Time: 22-Jan-2018 13:06 (GMT)

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