American businessman Maurice Wilner, one of the controlling owners of the refueling complexes company Arco , Became a stakeholder in the Gav-Yam income-producing real estate company, with a holding of 5.15% of its shares worth NIS 442 million. NIS.
From a report she published Back-sea It appears that Wilner bought shares this week for NIS 12.5 million, and crossed the 5% holding threshold, which requires reporting the holding to the investee company and through it to the stock exchange.
The two largest shareholders in Gev-Yam are a company Properties and building (44.51%) and businessman Aaron Frenkel (37.22%). Properties and Building recently signed an agreement to purchase Frenkel’s holdings in Gev-Yam for NIS 3.1 billion, but the deal is conditional on the success of Properties and Building to complete a partial takeover bid for 5% of Gev-Yam’s shares held by the other shareholders.
This proposal may now run into difficulties, after it became clear that Wilner holds 5.15% of Mev Yam, while all minority shareholders hold 18.27% of the company. However, Properties and Building has another option to complete the transaction with Frenkel, which includes obtaining approval from the minority shareholders in Gev-Yam for a resolution that new properties of Gev-Yam at a rate of 5% of the company will be allotted to Properties and Building.
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Wilner lives in St. Petersburg, Florida and is known to the Israeli capital market as the controlling owner of the public Arco company, along with his partner Arie Kotler. Arco operates in the field of gas stations and convenience stores in the United States. In 2020, Wilner and Kotler led a deal to merge Arco with a US publicly traded company (SPAC), and since then the merged company is traded on both the Tel Aviv Stock Exchange and the New York Stock Exchange.
Following the merger, Wilner holds 11.6% of Arco’s shares worth NIS 383 million, while Kotler holds 16.8% of the company’s shares worth NIS 556 million. Arco ended the first nine months of 2021 with a net profit of $ 46.3 million, compared to a net profit of $ 21.1 million recorded in the same period in 2020.
Arco’s revenue grew to $ 5.43 billion in the first nine months of 2021. By comparison, in the first nine months of 2020, the company posted revenue of only $ 2.67 billion, following the closures imposed in the U.S. to reduce the spread of the corona plague, which significantly reduced fuel consumption there.