$231 Billion Private Equity Firm CVC (CVC DIF) & UAE Tabreed to Buy UAE Abu Dhabi Investment Holding Company Multiply Group District Cooling Business PAL Cooling Holding for $1 Billion
2nd July | Hong Kong
European private equity firm CVC ($231 billion AUM) infrastructure unit (CVC DIF) & UAE Tabreed have announced to buy UAE Abu Dhabi investment holding company Multiply Group district cooling business PAL Cooling Holding for $1 billion (AED 3.8 billion). Multiply Group – Multiply Group PJSC is an Abu Dhabi-based investment holding company that globally invests and operates in transformative, cash-generating businesses. Known for its trademark growth mindset, Multiply Group will continue to deploy capital across its two distinct arms, both of which follow a disciplined approach to investing and ensure consistent, sustainable value creation for our shareholders in the short-, medium- and long-term: Multiply, the investments and operations in long-term strategic verticals, currently investing and operating in Mobility, Energy & Utilities, Media & Communications, Wellness & Beauty, and Retail & Apparel. Anchor investments provide long-term recurring income, through which bolt-on acquisitions are made. Multiply+, the Group further engages in opportunistic, sector-agnostic investments, via mainly minority stakes in private and public markets. CVC DIF – CVC DIF is the infrastructure strategy of CVC, a leading global private markets manager with a global network of 30 offices and €202 billion of assets under management (as of March 31, 2025). CVC DIF aims to deliver high-performing infrastructure investments that create sustainable long- term value for its stakeholders. With €19 billion of assets under management, CVC DIF invests on behalf of its partners, including pension funds, sovereign wealth funds, insurance companies, and other leading institutions globally. The firm focuses on investing in the attractive infrastructure mid-market, which benefits from a rapidly growing investible universe, nimble scale, and multiple levers to create sustainable value over the long term. CVC DIF’s two complementary infrastructure equity strategies invest in energy transition, digital infrastructure, transport, and utilities. NATIONAL CENTRAL COOLING COMPANY PJSC (TABREED) – Tabreed provides essential and sustainable district cooling services to iconic developments such as the Burj Khalifa, Sheikh Zayed Grand Mosque, Louvre Abu Dhabi, Ferrari World, Emirates Towers, Yas Island, Al Maryah Island, Dubai Mall, Dubai Opera, Dubai Metro, Bahrain Financial Harbor and the Jabal Omar Development in the Holy City of Makkah. The company owns and operates 92 plants in its portfolio, including 76 in the United Arab Emirates, five in the Kingdom of Saudi Arabia, eight in Oman, one in the Kingdom of Bahrain, one in India and one in Egypt, in addition to other international projects and operations. Tabreed is a leading driver of progress for people, communities, and environments around the world towards a more sustainable future. Founded in 1998 and publicly listed on the Dubai Financial Market, it is one of the UAE’s strongest growth companies. Through its extensive regional and international operations, industry-leading reliability and efficiency, R&D programmes and investment in AI technology, Tabreed further solidifies its position as the industry’s global leader. In addition to district cooling, Tabreed’s energy efficiency services extend the company’s sustainability impact, helping businesses and organisations to improve their overall energy consumption, in turn preventing CO2 emissions and assisting in the achievement of carbon neutrality objectives.
“ $231 Billion Private Equity Firm CVC (CVC DIF) & UAE Tabreed to Buy UAE Abu Dhabi Investment Holding Company Multiply Group District Cooling Business PAL Cooling Holding for $1 Billion “
$231 Billion Private Equity Firm CVC (CVC DIF) & UAE Tabreed to Buy UAE Abu Dhabi Investment Holding Company Multiply Group District Cooling Business PAL Cooling Holding for $1 Billion
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