DLA Piper Middle East provided legal counsel to the Saudi District Cooling Company (‘Saudi Tabreed’) on its recent 30% equity investment by the Public Investment Fund (‘PIF’), a sovereign wealth fund.
As a major district cooling provider in the Kingdom of Saudi Arabia, Saudi Tabreed has been involved in the development, investment, and maintenance of district cooling schemes since its establishment in 2006. With the investment from PIF, Saudi Tabreed plans to use the funds to finance its pipeline of projects and continue its growth trajectory.
The investment aligns with PIF’s goals to promote the expansion and advancement of the local utilities and low-carbon sectors.
DLA Piper team was led by Will Seivewright (partner and head of corporate Middle East, pictured), assisted by Nassar Nassar (corporate associate).