Qatar's UDC sells 40% stake in Qatar District Cooling Company to QIA for $220M.
Qatar's United Development Company (UDC) has approved the strategic sale of 40% of its stake in Qatar District Cooling Company (Qatar Cool) to the Qatar Investment Authority (QIA) for QR800 million ($220 million). The deal strengthens UDC's financial position and may reach 100% foreign ownership of UDC's shares, enabling investment in core projects and driving further innovation within The Pearl and Gewan Islands. The partnership with QIA is expected to benefit Qatar Cool, enhancing operational efficiency and competitiveness.
June 10, 2024
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