ASMA Capital Partners, a multi-fund asset management firm, agreed to acquire a stake in Saudi Tabreed, which operates as a mechanical system contractor, from ACWA Holdings, the Al Mutlaq Group and LAMA Holding. Financial terms were not disclosed. “Tabreed is delighted to welcome the Fund as a strategic partner into the shareholding of Saudi Tabreed. The Fund’s confidence in Saudi Tabreed confirms its status as the number one provider of district cooling in Saudi Arabia and further strengthens our position to capitalize on new opportunities expected to arise in the Kingdom,” Jasim Husain Thabet, Tabreed CEO.