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PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Aramco, unit and Sinopec ink $4bn deal

The two companies will establish a joint venture company.

Etihad unveils new A321LR aircraft

A321LR features First Suite - a private, enclosed space with a sliding door.

Dubai Investments makes $258m profit from Emicool deal

Established in 2003 as a wholly-owned subsidiary of Dubai Investments, Emicool provides district cooling services in the UAE with 30 percent market share.
By TRENDS Desk
April 16, 2022 4:42 pm

    Dubai Investments Co. has earned 50 million dirhams ($258 million) from the Emicool deal it concluded earlier.

    According to the company’s CEO, Khalid bin Kalban, the company will use the funds in debt reduction, paying exceptional profits to shareholders and making further investments.

    The company sold a 50 percent stake in Emirates District Cooling Co., known as Emicool, to Actis Investment Co. in a deal valued at 1.2 billion dirhams.

    Emicool has a corporate valuation of 3.7 billion dirhams and equity valuation of 2.4 billion.

    Established in 2003 as a wholly-owned subsidiary of Dubai Investments, Emicool provides district cooling services in the UAE with 30 percent market share.

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