Union Properties has announced the sale of its entire stake in Emicool, a district cooling services provider, to Dubai Investments, which already owned 50
Union Properties had received several offers to sell its shares in Emicool from various local and international companies, and subsequently notified Dubai Investments of its intention to sell its stake.
As per Emicool's Articles of Association, the partner had priority to buy any shares offered for sale. Accordingly, Dubai Investments announced its intention to acquire Union Properties' stake, which amounts to 50
Nasser Butti Omair bin Yousif, chairman of Union Properties, said: "The year 2018 marks the beginning of a new phase in the development and growth of Union Properties. After
Established in 2003, Emirates District Cooling (Emicool) is a limited liability company. Emicool's core operations include providing district cooling services for residential, commercial and industrial areas, as well as distributing, transporting and selling cold water used in cooling equipment for individual and corporate clients.