fbpx
Read Watch
Money

Saudi’s wealth fund PIF acquires 30% stake in Saudi Tabreed

by WAYA Staff - Dec 22, 2022
Saudi’s wealth fund PIF acquires 30% stake in Saudi Tabreed

Saudi’s Public Investment Fund acquired a 30% stake in the Saudi Tabreed, a subsidiary of the UAE-listed National Central Cooling Company, according to a Dubai Financial Market (DFM) filing in a deal worth about $250 million.

Tabreed said it has also entered into a deal to acquire additional shares in Saudi Tabreed from Al Mutlaq Group for Industrial Investments LLC for $14.6 million riyals.

Saudi Tabreed provides centralized cooling systems for urban buildings and was founded in 2014.

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.

Recommended stories

WNR: Here’s what happened in MENA this week

by Nouran Allam - Dec 22, 2022
WNR: Here’s what happened in MENA this week

IMF finally approved the 46-month $3 billion Egypt loan, this decision enables an immediate disbursement of about $347 million “which will help meet the balance of payments need and provide support to the budget,” according to the IMF statement. NEOM is...

Read More

intella partners with Huawei to integrate its AI technology services

by WAYA Staff - Dec 22, 2022
intella partners with Huawei to integrate its AI technology services

intella, a real-time intelligence provider, announced its partnership with Huawei, the global provider of information and communications technology (ICT) infrastructure and smart devices, to advance its Arabic Speech-To-Text technology. This partnership aims at deepening the integration between intella Voice and...

Read More

Evolve Investment Group receives the Global Economics’ Most Innovative Gold-Backed Investment Products award

by WAYA Staff - Dec 21, 2022
Evolve Investment Group receives the Global Economics’ Most Innovative Gold-Backed Investment Products award

Evolve Investment Group received The Global Economics’ award for the “Most Innovative Gold-Backed Investment Products” category.  The award recognizes Evolve Investment Group’s efforts in collaborating with the financial services sector and regulatory authorities to design frameworks that would enable the...

Read More