$300m bid received for Mubadala unit

The sale is worth about $300 million and Bank of America Merrill Lynch is advising Mubadala on the disposal, the people said, asking not to be identified as the information isn’t public. Veolia is bidding through its Dalkia unit, they said.

The assets provide air-conditioning for buildings on Al Maryah Island, which is being developed by Mubadala as the new central business district. Bank of America Merrill Lynch is at an advanced stage in evaluating the bids and a buyer could be chosen soon, according to one of the people. A spokesman for Mubadala declined to comment. Bank of America Merrill Lynch and Dalkia also declined to comment.