KKR (KKR) is among global asset managers vying for PAL Cooling Holding, a district cooling business owned by Abu Dhabi's Multiply Group, Reuters reported Friday, citing three people with knowledge of the matter.
Investcorp, an alternative investment manager in the Middle East, is also among the potential buyers, the sources told Reuters.
The deal could be worth about $1 billion and potential bidders are expected to submit binding offers next month, according to the report.
KKR and Multiply did not immediately respond to MT Newswires' request for comment. Investcorp declined to comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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