Global law firm K&L Gates has advised United Development Company Q.P.S.C. (UDC), a Qatari public shareholding company and the master developer of the Pearl and Gewan islands, on the sale of 40% of its shares in Qatar District Cooling Company Q.P.J.S.C. (Qatar Cool) to QIA Investco Holding Company LLC (QIA) for QAR793.4 million.
UDC's partnership with QIA is expected to bolster Qatar Cool's capabilities, aligning with UDC's long-term vision of sustainable development and operational excellence. This key mandate supports a broader strategy to consolidate Qatar's district cooling sector and contribute to Qatar's growth in line with the Qatar National Vision 2030.
The cross-office team that advised UDC was led by Corporate & Finance partner Amjad Hussain (Doha) and M&A partner Craig Fraser (London), with support from senior associates Jaime Oon (Corporate & Finance, Doha) and Emma Cooper (M&A, London), and Doha associate Mira Khalaf and senior paralegal Randa Shiblaq.
Maher Naim, UDC's executive director-financial planning, stated: "We are grateful for the exemplary support provided by the team at K&L Gates on this highly important transaction. The team did a wonderful job."
Hussain added: "We are delighted for the opportunity to work with UDC on this strategic project and are grateful for the ongoing trust that UDC places in our firm. This transaction demonstrates our market-leading credentials in M&A transactions."
K&L Gates' Corporate practice is one of the most substantial in the legal industry, with hundreds of lawyers in offices on five continents providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.