Mubadala receives bids from GDF Suez, Veolia for cooling operations

February 22, 2014 12:48 am

GDF Suez and a unit of Veolia Environnement have submitted bids to Mubadala Development Co, owned by the government of Abu Dhabi, to buy cooling operations in the emirate, Bloomberg has reported, citing two people familiar with the matter. The sale is worth about $300m and Bank of America Merrill Lynch is advising Mubadala on the disposal, the people said. Veolia is bidding through its Dalkia unit, they said. The assets provide air conditioning for buildings on Al Maryah Island, which is being developed by Mubadala as the new central business district.