DLA Piper Advised Saudi Tabreed on 30% Equity Investment by PIF
DLA Piper Advised Saudi Tabreed on 30% Equity Investment by PIF Advised by DLA Piper Middle East, the Saudi District Cooling Company (Saudi Tabreed) has received a 30 per cent equity investment from the Public Investment Fund (PIF). With its expertise in district cooling services, Saudi Tabreed has emerged as the leading provider of such services in the Kingdom of Saudi Arabia since...
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DLA Piper Advised Saudi Tabreed on 30% Equity Investment by PIF
Advised by DLA Piper Middle East, the Saudi District Cooling Company (Saudi Tabreed) has received a 30 per cent equity investment from the Public Investment Fund (PIF).
With its expertise in district cooling services, Saudi Tabreed has emerged as the leading provider of such services in the Kingdom of Saudi Arabia since its establishment in 2006. It develops, invests, and operates district cooling schemes on a build-operate-own-transfer basis.
Following the 30 per cent equity investment in Saudi Tabreed by the Public Investment Fund (PIF), the company intends to use the investment proceeds to fund its project pipeline and accelerate its growth plans.
“This is an important milestone in Saudi Tabreed’s journey and a very proud moment to be associated with the PIF. It marks a new chapter for the Company’s future. We are very excited about the growth opportunities that this valuable partnership will bring to the Company,” Mohammed Abunayyan, Saudi Tabreed’s chairman, said.
Will Seivewright, partner and Head of Corporate (Middle East) DLA Piper, said: “PIF and Saudi Tabreed’s monumental deal will give the wealth fund a significant holding in the district cooling company – an investment which is transformational for the company. We are pleased to have supported Saudi Tabreed on this strategic transaction which ultimately helps to shape and diversify Saudi’s economy in alignment with the Kingdom’s Sustainable Saudi 2030 vision.”
DLA Piper is a prominent international law firm in the Middle East, offering legal advice to a variety of clients including major corporations, financial institutions, investment funds, and emerging companies. The firm has established itself as a go-to legal advisor for local, regional, and cross-border transactions across the MENA region.
