Clyde & Co advises Saudi Tabreed on the investment by IDB Infrastructure Fund II

Clyde & Co has advised Saudi Tabreed District Cooling Company on the private placement of a significant minority stake to IDB Infrastructure Fund II, an investment fund managed by ASMA Capital Partners and regulated by the Central Bank of Bahrain.

Saudi Tabreed is the leader in the district cooling sector in Saudi Arabia, providing flexible, long-term contracts for the supply of cooling to a range of customers. ASMA Capital Partners manages the IDB Infrastructure Fund II which invests in infrastructure sectors across the 57 member countries of the Islamic Development Bank (IDB) and the member countries of the Association of South East Asian Nations.

The Clyde & Co team which advised on the transaction was led by Corporate Partner Naji Hawayek (Dubai) and Senior Associate Rajiv Nawbatt (Dubai) with support from Corporate Partner Alain Sfeir (Riyadh), and Associates Neil Williams (Dubai), Hamad Al Muslem, Abdulrahman Al-Ohaly (both Riyadh), as well as Mario Haxhiymeri (Dubai) and Alicia Hatvany (London).