UDC Signs Agreement to Sell 40% Stake in Qatar Cool to QIA

United Development Company (a Qatari public shareholding company) signed a conditional sale and purchase agreement with Investco Holding Company, a wholly owned subsidiary of Qatar Investment Authority (QIA), worth QR 793.4 million, in exchange for 40% of its stake in Qatar District Cooling Company (Qatar Cool). A statement issued by the company and posted on the Qatar Stock Exchange website Tuesday said that the aforementioned deal was approved during the extraordinary general assembly meeting of United Development Company (UDC) held on June 9, 2024. The deal will be subject to fulfilling the usual completion conditions, in addition to observing all relevant laws, legislations and procedures followed in this regard, including disclosing any developments in this regard. Source: Qatar News Agency