BRIEF-Tabreed Acquires 80% Stake In Emaar's Downtown Dubai District Cooling Business

  • Reuters
  • Stock Market News
BRIEF-Tabreed Acquires 80% Stake In Emaar's Downtown Dubai District Cooling Business

April 6 (Reuters) - NATIONAL CENTRAL COOLING CO TABR.DU :

* ACQUIRES 80% STAKE IN EMAAR PROPERTIES' DOWNTOWN DUBAI DISTRICT COOLING BUSINESS

* ACQUISITION AT A COST OF AED 2.48 BILLION

* HAS ENTERED INTO NEW BANK FACILITIES WHICH WILL BE USED TO FINANCE THE TRANSACTION

* NEW FACILITY PRINCIPAL AMOUNT $692 MILLION TERM LOAN FACILITY UNDER A COMMON TERMS AGREEMENT AND CREDIT FACILITY AGREEMENT

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