Dubai – Dentons has advised longstanding client, National Central Cooling Company PJSC (Tabreed) on its acquisition of the equity interests of Mubadala Infrastructure Partners in the Maryah Island district cooling facilities in Abu Dhabi. The transaction means that Tabreed will become the sole owner of the facilities on Maryah Island, which is the central business district and luxury lifestyle destination of Abu Dhabi and includes landmark developments such as the Cleveland Clinic, Galleria Mall, Four Seasons, Rosewood and the Abu Dhabi Global Market.
This transaction follows Dentons' role in advising Tabreed on the successful completion of a number of acquisitions in the UAE, including the AED963 million (US$262.2 million) purchase of Aldar Properties' district cooling assets on Abu Dhabi's Saadiyat Island, which was one of the largest M&A transactions in the UAE and completed earlier this year, as well as the acquisition of Masdar's district cooling assets serving Masdar City in Abu Dhabi.
Commenting on the transaction, Dubai partner and team co-lead, Iain Black said: "It is a real pleasure to be able to leverage our market-leading M&A, district cooling and projects expertise to provide comprehensive support to Tabreed on all aspects of its acquisition of these important assets."
"We are delighted to have supported longstanding client Tabreed on yet another strategic acquisition which cements Tabreed's position as the leading district cooling provider in the Emirate of Abu Dhabi," said Jon Nash, partner in Dentons' Abu Dhabi office and team co-lead.
The Dentons team was led by UAE partners Iain Black and Jon Nash, with assistance from other members of the Dentons team, including senior associate Craig Hughson and associates Jasem Alanizy, Kislay Kumar and Hassan Damanhouri, along with paralegal, Manal Abu Issa.
© Press Release 2021