Shlomi and Yossi Amir, who sold the supermarket chain for Paz in August 2021, received in return a 7% share of the buyer’s shares along with NIS 1.4 billion in cash – they sold the shares to institutional entities at a value about 5% lower than the market price
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The brothers Shlomi and Yossi Amir sold this evening the shares they received in the Paz Energy Company as part of the Freshmarket deal, a share of 7%, for NIS 300 million.
Calcalist learned that the brothers distributed the shares among several institutional entities at a price of NIS 410 per share, about 5% lower than yesterday’s closing price on the stock exchange, which was NIS 431.5 – a price that reflects the Paz’s value of NIS 4.6 billion. The shares were distributed by Lider.
Brothers Shlomi and Yossi Amir sold the remaining shares in Paz for NIS 300 million. The sale was completed tonight at a price of NIS 410 per share – 5% below the stock market price
The shares were directed by Lider
In August 2021, Paz, which is a company without a controlling interest, signed the purchase of all the shares (100%) of Freshmarket at a value of NIS 2.147 billion. In the purchase transaction at that time, 80% of the consideration (NIS 1.718 billion) was paid in cash and 20% through the issuance of Paz shares.
In this deal, the Amir brothers who controlled the market received a 7% share of Paz shares, along with NIS 1.4 billion in cash. Now they are selling the shares they received in the deal. Paz is managed by Nir Stern and the chairman of the board is Harel Locker.
Paz is facing a battle for control, which will open after it completes the deal to split the refinery and brings in Shafir as an investor. The hot name to take over the company is the real estate man Zohar Levy who already owns 10% of Paz through the Summit company he owns.
Zohar purchased shares for a long period of time, including recently, until he reached the maximum he could hold according to the Paz control permit, a share of 10% as mentioned.
After the refinery is split up there will be no limit on holding shares and then Zohar and other players can try to take over Paz. The shares sold by the Amir brothers are expected to be significant among the controlling parties and it is quite possible that the institutional bodies will trade them with the various players.