Multiply Group Completes Sale of PAL Cooling for AED3.87 Billion

Abu Dhabi-based Multiply Group has officially completed the sale of its district cooling subsidiary, PAL Cooling Holding, for AED3.871 billion. The buyer is a consortium led by Tabreed and CVC DIF. This transaction reflects Multiply Group’s strategy to unlock value from its assets and redeploy capital into new or existing business verticals.

Strategic Exit to Enhance Investment Capacity

Samia Bouazza, CEO and Managing Director of Multiply Group, described the sale as a deliberate exit and natural liquidity event. She highlighted that this strategic decision aligns with the company’s disciplined investment framework, demonstrating a focused approach to portfolio management.

PAL Cooling’s Role in the UAE Market

PAL Cooling Holding is a major player in the UAE district cooling sector, operating five active plants across the country. The company serves residential, commercial, and mixed-use developments, maintaining eight long-term concessions and partnerships with leading UAE real estate developers. Notably, PAL Cooling services key areas such as Abu Dhabi’s Reem Island.

Financial and Operational Impacts

The transaction strengthens Multiply Group’s financial position, enabling the company to redeploy capital into promising investment opportunities. This move is expected to enhance shareholder value while allowing the group to focus on sectors with high growth potential.

Future Strategic Opportunities

Multiply Group continues to evaluate investment opportunities across its verticals, maintaining a proactive approach to strategic acquisitions and exits. The company aims to capitalize on emerging market trends, expand its portfolio, and reinforce its position as a global investment holding firm.

Commitment to Long-Term Growth

The sale of PAL Cooling aligns with Multiply Group’s long-term vision of disciplined growth and value creation. By focusing on high-potential investments, the group seeks to strengthen its operational capabilities while delivering sustainable returns to shareholders.

This deal underscores the strength and attractiveness of the UAE district cooling sector and highlights Multiply Group’s role in actively managing its portfolio. The company’s careful evaluation of investment and divestment opportunities positions it as a dynamic player in global business operations and strategic investments.

Multiply Group’s successful sale of PAL Cooling Holding marks a milestone in its portfolio management strategy. The transaction reinforces the group’s commitment to value creation, enabling it to explore new ventures and capitalize on emerging opportunities in the UAE and international markets.