Actis buys 50% stake in Dubai’s Emicool

Dubai Investments, a diversified investment company listed on the Dubai Financial Market, has entered a deal to divest a 50% stake in Emirates District Cooling Company (Emicool) to UK-based Actis, a global investor in sustainable infrastructure, at a corporate valuation of USD 1 billion and equity valuation of USD 653 million.

With an extensive network in multiple geographies, the joint venture is aimed at supporting Emicool in its vision of becoming one of the leading providers of district cooling services in the Middle East and North Africa region.

Emicool has connected to more than 2,200 buildings across the UAE since its establishment in Dubai in 2003, including residential, retail, and commercial buildings, as well as hotels, schools, universities, hospitals, industrial units, and staff accommodations.

The deal is considered one of the largest transactions in the region’s district cooling industry and reflects the growing demand for district cooling.

Actis is a global investor in sustainable infrastructure and has raised USD 24 billion in capital since its inception. The company invests in stabilized operating assets within multiple infrastructure sectors to deliver a strong cash yield for investors and measurable ESG impact.

Al Mal Capital, a subsidiary of Dubai Investments and an investment institution, acted as the sole financial advisor to Dubai Investments on this transaction.