CVC DIF and Tabreed Acquire PAL Cooling Holding from Multiply Group

CVC DIF, the infrastructure strategy of private markets manager CVC, and Tabreed have agreed to acquire PAL Cooling Holding from Abu Dhabi’s Multiply Group in a transaction with an equity value of approximately AED 3.8 billion. The deal covers eight long-term district cooling concessions in Abu Dhabi (served by five operating plants with additional plants under construction/planning) and is intended to expand capacity and network presence in the Abu Dhabi district cooling market, subject to regulatory approvals.