Shufersal, without a controlling nucleus, continues to concentrate interest among many factors in the capital market.
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ToCalcalist It was learned that the activist hedge fund Brosh and the real estate investment fund JTLV have submitted an offer to Shufersal’s board of directors to invest NIS 540 million in Shufersal Real Estate, in exchange for an allotment of 15% of Shufersal Real Estate’s shares.
Shufersal Real Estate is a subsidiary of Shufersal and is fully owned. The company owns 95 properties, of which 71 are leased to Shufersal. According to Shufersal’s reports for 2021, the value of the subsidiary’s assets is NIS 2.7 billion and they generate an NOI of NIS 159 million.
The Brosh Fund, managed by Amir Efrati, is an activist hedge fund that specializes in investing in companies in districts. Gil Deutsch and Roni Biram are also partners. JTLV is a real estate investment fund with partners Shlomo Gutman, Ariel Rotter and Amir Biram, Roni’s brother, who serves on Brosh’s advisory committee.
Shufersal, which is headed by Yaki and Damani and will soon be replaced by Ofer Bloch, is traded without a controlling interest and 60% of its shares are held by institutional entities.