Amos Luzon (YouTube / Hot Photography, Flash 90 / Nati Shochat)
Six years ago, businessman Amos Luzon acquired the A. Group for NIS 10 million. Dori from the income-producing real estate company, Gazit Globe. It seemed like a dream deal for Luzon due to the relatively low amount in which he acquired the company.
According to a publication on the “Globes” website, the hasty sale of the controlling shares was made after the entanglement of the subsidiary “Dori Construction” in what they called financial chaos and huge losses that Gazit Globe wanted to stay away from and that was the reason for the purchase. They added that Gazit Globe had to settle for losses of a company that hundreds of millions of shekels that flowed in order to stabilize its business.
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What happened to the stock? Under the new landlord, share a. Dori, which became the shareholder of the Amos Luzon Group, exploded and jumped by 1,500% in the last six years, the value of the company soared to more than NIS 800 million and the value of Luzon’s holdings of about 71% of the company approaches NIS 600 million. According to a report in “Globes”, the value passed to Gazit Globe’s controlling shareholder, Haim Katzman, whose holdings are worth less than half a billion and the value of the Amos Luzon group is equal to one-fifth of Gazit Globe (NIS 4.2 billion), Gazit Globe made a return of only 15% in six the last years.
At the time of the acquisition on January 14, 2016, the Luzon Group’s share was 8.90 ag per share, while today Luzon’s share is sold at a price of 220 ag per share, as stated, Luzon bought the company for NIS 10 million and today the company is worth about 813 One million shekels.
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