Dubai-listed National Central Cooling Co. is in exclusive talks to buy regional mall operator Majid Al Futtaim’s cooling assets, Reuters reported citing two sources close to the matter.

The firm, also known as Tabreed, has appointed Standard Chartered to advise on the transaction, the sources, who declined to be named because the matter is not public, told Reuters.

Tabreed and Majid Al Futtaim did not immediately respond to requests for comment. Standard Chartered declined to comment.