The UAE "Malateli" wants to sell the cooling unit for one billion dollars

Abu Dhabi -based multiplication group studies the sale of its central cooling unit, as part of the effort to take advantage of the construction boom in the Emirates. According to people who are familiar with the matter, the investment business works with a standard card to sell Pal Coooling. Malcon seeks to get about one billion dollars for the sale of unit, according to the people who asked not to reveal their identity because the information is confidential. ‘Pal Colling’ attracts investors who, according to a person, attracted the agreement with the interest of regional and international investors. According to people, the discussions are still early, and the sale may not be able to take place. Representatives of the “MustaBlay Group” and “Standard Charterd” did not respond to the suspension requests. The group “Malateli” offered its shares for public trading more than three years ago, and it is known for its investments ranging from “Getty Images” and the American Singer “Rihanna” underwear. The parent company, which is ‘al -Alamia Holding’, is led by Sheikh Tahnoon bin Zayed Al Nahyan, the prominent figure among the strongest ruling families in the Middle East, who oversees a financial empire worth $ 1.5 billion, including two sovereign funds and various control companies. The construction boom in the UAE -central cooling is the widespread method of air conditioning in an area that exceeds more than 110 Fahrenheit (43 ° C) during the summer, where the cooling water is transported by pipelines to cool buildings, including villas in neighborhoods or many clouds in the emirates. The continuation of the construction boom in the UAE increases the demand for central cooling. Founded in 2006, Pal Colling Holding has five cool stations in the UAE and has partnerships with some large real estate companies in the local market. The sector has seen integration and acquisitions over the past few years, as the “reading” business, which lists the list of its most important shareholders, “Mubadala”, one of the sovereign funds and the French “Engie” business (Engie ” -80% of the cool unit of” Emar Real Estate “, which has the local cooling services for prominent landmark “Embower” business in Dubai bought the central cooling systems of Emirates Airport and included its shares on the local stock exchange.