Technoplus Ventures, which deals in investments in the fields of software and life sciences, reported yesterday on an extraordinary deal, in the framework of which it is expected to merge with Arkia Airlines.
As part of the memorandum of understanding, Technoplus will acquire 100% of Arkia’s shares in exchange for the allocation of 76% of its shares. A similar merger process was also carried out in the past with the Israir airline that was purchased by Rami Levy. Arkia controlled by the Nakash family will become a stock exchange company.
Technoplus is traded at a value of NIS 30 million. Arkia’s owners as well as third parties (who will later invest an additional NIS 20 million in the merged company) will own 76% of Technoplus after the merger.
The exclusivity period in the deal will last 45 days, during which the parties will not negotiate with other entities. It was further determined that Arkia’s equity at the time of signing the deal will be at least NIS 27 million. Arkie is managed by Gadi Teper, who also serves as the chairman of the board.
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It is controlled by Rafi and Avi Naksh. The representative of the family in Israel is Avi Hormero, CEO of Jordash (of the Nakash family). The deal will be done in coordination with the company’s employees. The representative of the employees, who hold 30% of Arkia’s shares through Tut Tourism and Aviation, is Yaron Zelicha.
Arkie is engaged in domestic and international aviation and manages a fleet of seven aircraft. The CEO of the company: “This is a significant step for Arkie. The merger with a stock exchange company will allow Arkia to grow and develop as well as equip itself with additional aircraft.” Arkia is represented by attorney Ronan Kantor from the Doron office, Tykotsky.