Clal Beverages rejects the company’s offer Cooling Holdings And will not sell her its shares in the company Yafora For NIS 450 million. Following the decision to postpone, Clal Beverages and Refrigeration Holdings will continue to hold together the shares of the soft drink company Yafora.
According to Clal Beverages, its board of directors is conducting an in-depth examination of a refrigeration proposal, with the assistance of a number of external consultants. In this context, Clal Beverages’ economic work was presented to an external appraiser, who determined that the fair value of the company’s holding in Bifora is significantly higher than the offer submitted by Karur Holdings, even with strict assumptions and possible regulatory changes that could adversely affect Yafora and its operations.
Clal Beverages also stated in the announcement that the company had received indications from a number of institutional entities holding its shares, according to which the proposed consideration does not reflect the fair value of the company’s holdings in Bifora.
Karur, which is controlled by Shlomo Rodev and Roni Gat, which owns 69.55% of Yafora shares, submitted an offer last month to purchase Yafora shares that it does not own (30.45%), for a sum of NIS 450 million. The proposal reflected a value of about NIS 1.48 billion for Lipora.
From the latest reports she has published All drinks It appears that in the first nine months of 2021, Yafora recorded a 10% growth in revenues to NIS 764 million, compared to the corresponding period last year. According to Clal Beverages, this growth was due to an increase in demand and the recovery of the economy from the corona crisis. Yafora’s operating profit grew in the first nine months of 2021 by 5% to NIS 131 million, while operating profit before depreciation and amortization (EBITDA) increased by 7% to NIS 177 million.
In the bottom line, in the first nine months of 2021, Yafora recorded a 17% growth in net profit to NIS 104 million, which was also positively affected by a gain on the increase in value of tradable securities it owns, in the amount of NIS 7 million.