Latest news with #PCH
Zawya
3 days ago
- Business
- Zawya
UAE's Tabreed, CVC in exclusive talks to buy Multiply unit, sources say
DUBAI - Engie-backed National Central Cooling, known as Tabreed, and CVC are in exclusive talks to buy Abu Dhabi-based Multiply Group's district cooling business in a deal expected to value the unit at more than $1 billion, two sources told Reuters. Tabreed and private equity firm CVC were the top bidder for PAL Cooling Holding (PCH), the sources familiar with the matter said, adding that bilateral talks with the seller had started. One of the sources said the bid was close to $1.1 billion. The interest in PCH highlights how international buyout groups are increasingly looking to invest in the Gulf region as governments there strive to diversify their economies from oil. In a statement, Tabreed said it did not comment on market rumours or speculation, adding any material transactions would be disclosed to the market as and when they are finalised. CVC declined to comment, while Multiply Group did not immediately respond to a request for comment. Reuters reported in April that CVC was working with Tabreed to jointly bid for PCH. District cooling plants, which deliver chilled water via insulated pipes to cool offices, industrial and residential buildings, have been developed as a more economical and environmentally friendly alternative to air conditioning. They are popular in the United Arab Emirates and elsewhere in the Arabian Peninsula, where summer air temperatures can soar above 50 degrees Celsius (122 degrees Fahrenheit). Founded in 2006, PCH has several plants in Abu Dhabi with a combined design capacity of 242,000 refrigeration tonnes, according to its website. Reuters reported in April that the sale had drawn interest from bidders including KKR, I Squared Capital, Investcorp and TAQA, and was expected to fetch about $1 billion. Multiply is controlled by IHC, whose chairman is Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser and brother of the country's president who controls a sprawling business empire including two sovereign wealth funds. (Reporting by Hadeel Al Sayegh Editing by Mark Potter)
Reuters
3 days ago
- Business
- Reuters
Exclusive: UAE's Tabreed, CVC in exclusive talks to buy Multiply unit, sources say
DUBAI, May 30 (Reuters) - Engie-backed National Central Cooling ( opens new tab, known as Tabreed, and CVC are in exclusive talks to buy Abu Dhabi-based Multiply Group's ( opens new tab district cooling business in a deal expected to value the unit at more than $1 billion, two sources told Reuters. Tabreed and private equity firm CVC were the top bidder for PAL Cooling Holding (PCH), the sources familiar with the matter said, adding that bilateral talks with the seller had started. One of the sources said the bid was close to $1.1 billion. The interest in PCH highlights how international buyout groups are increasingly looking to invest in the Gulf region as governments there strive to diversify their economies from oil. In a statement, Tabreed said it did not comment on market rumours or speculation, adding any material transactions would be disclosed to the market as and when they are finalised. CVC declined to comment, while Multiply Group did not immediately respond to a request for comment. Reuters reported in April that CVC was working with Tabreed to jointly bid for PCH. District cooling plants, which deliver chilled water via insulated pipes to cool offices, industrial and residential buildings, have been developed as a more economical and environmentally friendly alternative to air conditioning. They are popular in the United Arab Emirates and elsewhere in the Arabian Peninsula, where summer air temperatures can soar above 50 degrees Celsius (122 degrees Fahrenheit). Founded in 2006, PCH has several plants in Abu Dhabi with a combined design capacity of 242,000 refrigeration tonnes, according to its website. Reuters reported in April that the sale had drawn interest from bidders including KKR, I Squared Capital, Investcorp and TAQA, and was expected to fetch about $1 billion. Multiply is controlled by IHC ( opens new tab, whose chairman is Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's national security adviser and brother of the country's president who controls a sprawling business empire including two sovereign wealth funds.
Yahoo
4 days ago
- General
- Yahoo
WVU Princeton Community Hospital receives perinatal immunization award
PRINCETON, WV (WVNS) — WVU Medicine Princeton Community Hospital (PCH) announced that its Women's Center received an award for its efforts in immunization. According to a press release, the center received the Perinatal Award from the West Virginia Division of Immunization Services due to their efforts in protecting babies from the preventable disease, hepatitis B. The City of Bluefield plans for a consolidated emergency response facility Approximately 600 babies per year are born exposed to hepatitis C, a disease with no vaccine available, the release stated. On the other hand, approximately 20 babies are born yearly exposed to hepatitis B due to the state's vaccine laws which bolster immunity. Hepatitis B has the potential to be deadly if not addressed or prevented. The staff at the Women's Center makes sure that every baby that faces the risk receives prompt care and the full vaccine series, the release noted. The work they do is crucial in addressing issues within a region of the Mountain State that has been massively impacted by the opioid crisis and other health concerns. Our team works hard to identify newborns who may have been exposed to hepatitis B so action can be taken immediately to protect the health of the baby. Early protection is critical. When we step in at birth, we can keep babies safe for life. Karen Bowling | President and CEO, WVU Medicine PCH Summit Christian Academy joins the WVSSAC The award is presented each year to a facility in the state that displays incredible diligence in submitting timely notifications to the local health department when a person they are treating has chronic, acute, or perinatal hepatitis B, the release stated. For more information regarding WVU Medicine Princeton Community Hospital, visit their website. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
6 days ago
- General
- Yahoo
Officials look to quell Pacific Palisades residents' security concerns after PCH fully reopens
In the wake of the Palisades Fire in January, Pacific Coast Highway between L.A. and Malibu was shut down for months – except for local residents, businesses and emergency crews – due to damage from the fire and subsequent mudslides, and now that the critical stretch of coastal highway is open, those living in the area are worried about security. Officials, however, are ensuring that all precautions are taken as more and more people travel through the area. PCH officially reopened on Friday, ahead of schedule and just in time for Memorial Day weekend. Up to two lanes are open in each direction with a 25-mile-per-hour speed limit through active work zones, and security checkpoints along the highway have been removed as the California National Guard demobilizes from the area. As PCH reopens, Malibu urges beachgoers to be safe and respectful Speed limits and worker safety aren't the only things on residents' and officials' minds. Burglaries and thefts in wildfire-affected areas have increased (including in the Eaton Fire burn zone in Altadena, where officials say burglaries are up 'several hundred percent'), and now that the general public is back in the area, concerns are heightened. One way that local leaders are looking to ease those concerns is the decision to hire a private security firm that will provide 24/7 armed patrols in neighborhoods affected by both the Palisades and Franklin fires, officials announced. Approved on May 21 by the Malibu City Council, Covered 6 was chosen since the firm has 'extensive experience patrolling neighborhoods' and that they have worked with local deputies in the past. The service will cost roughly $260,000 per month. Speaking on the price tag at the city council meeting, one resident opined that 'it's a lot of money to spend…but I think it's a time to spend it.' Los Angeles officials tout record progress in Palisades Fire recovery as homes start to be rebuilt 'The patrols are intended to supplement law enforcement efforts by the LASD Malibu-Lost Hills Station and ensure continuous public safety coverage during a critical recovery phase,' Malibu officials said on May 22. 'Fire-damaged areas face heightened risks of burglary, vandalism, theft – particularly of construction materials – as many properties remain vacant during rebuilding.' 'Looter suppression efforts will be intensified, with zero-tolerance to crime and traffic violations,' officials added, piggybacking off Los Angeles County District Attorney Nathan Hochman's policy on wildfire looters. During the May 21 Malibu City Council meeting, Scott Wagenseller, the founder and CEO of another private security firm, Gates Security, said that on the previous day, officers with his company found a man with a gun in the backyard of one of their clients' homes. Another man was found with a knife, and a 'squatter issue' involving a man on a previously burned property had recently been resolved. 'These are transients walking into the environment,' Wagenseller said. 'Raise Pali' golf tournament supports wildfire recovery efforts for local high school Residents are encouraged to 'take an active role' in protecting their properties by filling out a Letter of Agency at the Malibu-Lost Hills LASD station; the document authorizes deputies to enforce trespassing laws on private property in the owner's absence and officers to take action against unauthorized individuals without contacting the property owner first, the Malibu City Council said. Property owners are also asked to secure their property by ensuring that gates, doors and windows are locked. Any suspicious activity should be reported to authorities. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
San Francisco Chronicle
23-05-2025
- Automotive
- San Francisco Chronicle
Pacific Coast Highway reopens ahead of Memorial Day weekend after Palisades Fire
The Pacific Coast Highway, a vital route linking Malibu and Pacific Palisades, reopened to drivers on Friday morning for the first time since January, following extensive repairs prompted by the Palisades Fire. The reopening, which came ahead of schedule, offered a crucial lifeline to residents, commuters and tourists just in time for the Memorial Day weekend. Gov. Gavin Newsom announced the reopening Thursday, saying the rapid recovery efforts were made possible by a coordinated effort between state, local and federal agencies. 'In California, we get stuff done, period,' Newsom said in a statement. 'We're opening the PCH back up early, with more lanes before Angelenos hit the road this Memorial Day.' The highway had been closed for months after the fire ravaged beachfront homes and businesses. Newsom credited local construction crews and partners, including the Army Corps of Engineers, for their work in expediting repairs. At 8 a.m. Friday, one lane in each direction was made accessible to the public, though repairs are ongoing in certain areas. However, drivers should exercise caution as a 25-mph speed limit remains in effect. The California Highway Patrol and Caltrans have warned motorists to expect delays due to continuing construction, and flashing red lights at several intersections will require drivers to stop. Malibu and Pacific Palisades, both vital to Southern California's tourism economy, have faced significant challenges in recovering from the fires. The fire, which ignited on Jan. 7 during fierce Santa Ana winds, destroyed more than 6,800 structures and claimed at least 12 lives. 'The reopening of Pacific Coast Highway marks an important step forward in our recovery effort in the Palisades, which is on track to be the fastest in state history,' Los Angeles Mayor Karen Bass said in a statement. To ensure safety, authorities have increased security in the affected neighborhoods. 'While significant challenges remain, this development helps restore limited access for residents and travelers along the coast,' Malibu Mayor Marianne Riggins said in a statement.
