Dubai Investments PJSC (DFM:DIC) acquired the remaining 50% stake in Emirates District Cooling L.L.C. from Union Properties PJSC (DFM:UPP) for AED 500 million on January 18, 2018. Union Properties notified Dubai Investments PJSC of its intention to sell its entire stake. Union Properties will invest the proceeds from the transaction in enhancing its investment portfolio, expanding its operations and development projects and supporting its ambitious growth strategy. The transaction is expected to have a positive impact on Dubai Investment's financials. Duncan Macnab of Allen & Overy LLP acted as legal advisor to Dubai Investments PJSC. Cms Dubai acted as a legal advisor for Union Properties regarding the sale.

Dubai Investments PJSC (DFM:DIC) completed the acquisition of the remaining 50% stake in Emirates District Cooling L.L.C. from Union Properties PJSC (DFM:UPP) on January 18, 2018.