After losing 25% of its record price last April, the “Ari Real Estate” company of businessman Tzachi Abu is launching a private placement of shares with a large cash volume of NIS 300 million. NIS 117 million
Businessman Tzachi Abu takes Ari Real Estate for a private placement of shares with a total cash amount of NIS 300 million – as published by Nitzan Cohen, Ace wrote. Abu himself bought shares for NIS 117 million, thus increasing his holding to about 53% of the company Holding of about 47% of the company before the acquisition.
The deal was made at a price of NIS 3.22 per share – a price that is about 25% lower than the record price of the share last April, when it was traded at NIS 4.24. Abu actually bought 36.3 million Ari shares at NIS 3.22 per share.
Meanwhile, Ari Real Estate has become the lucrative real estate arm of the Ashdod businessman who is considered one of the dominant real estate people in recent years.. After completing the transaction, the company will be traded at a value of over NIS 1 billion.
Recently, as will be recalled, Ari Real Estate completed a NIS 544 million bond issue in MHM for 4.5 years with a first lien on Star Center Ashdod. And a payment for the purchase of the balance of Phoenix’s holdings in Star Ashdod at a rate of 25% and in the amount of NIS 315 million..
The company recently reported on a number of significant transactions, including the signing of a memorandum of understanding with the investment fund. JTLV Led by Amir Biram, the Fischer-Bronfman Group, the franchisee of the IKEA furniture chain in Israel. In addition, the company reported the signing of a memorandum of understanding for the lease of an area of approximately 7,000 square meters in the complex to the European retail giant – Carrefour chain (Carrefour).