UDC Accepts Conditional Offer to Buy 40 Percent of its Share in Qatar Cool

Doha: United Development Company announced its acceptance of a conditional offer to purchase 40 percent of its share in the Qatar Cooling District Company (Qatar Cool). The offer was submitted by the Qatar Investment Authority (QIA) for QR 800 million, according to a statement by the United Development Company (UDC) published on the Qatar Stock Exchange (QSE) website. All the relevant laws and, regulations and the applicable procedures set out in the Companies Law No. (11) for the year 2015 and its amendments in Law No (8) for the year 2021 were taken in consideration. Source: Qatar News Agency