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Mubadala increases Tabreed stake to 26%

National Cooling Co (Tabreed) has announced Abu Dhabi's state-owned fund Mubadala has increased its stake in the district cooling firm from 16.79% to a majority 26.1% stake, following the completion of a tender offer of shares to repay an Islamic bond due this month, Reuters has reported. With the conversion of the Islamic trust certificates into shares, Mubadala now has a 14.8% stake in the firm while its wholly-owned subsidiary General investments FZE holds an 11.29% stake in Tabreed.