GIB Capital, the investment banking subsidiary of Gulf International Bank, on Thursday, said it had successfully advised Saudi Tabreed District Cooling Company (Saudi Tabreed) on the private placement of a "significant minority" stake in the company to IDB Infrastructure Fund II.
The transaction was completed in April, the consultancy said.
The sponsors of the $750 million fund include the Islamic Development Bank, Saudi Arabia's Public Investment Fund and Public Pension Agency, and the governments of Bahrain and Brunei Darussalam.
Saudi Tabreed shareholders include ACWA Holding, National Central Cooling Company (Tabreed UAE), Almutlaq Group and LAMA Holding.
Over the last several years, GIB Capital has completed private placement transactions worth SAR 6.5 billion ($1.75 billion) and introduced offerings of over SAR 19 billion ($5 billion) in the Saudi capital markets.
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