Nati Saidoff Sells 4% Stake in Shikun & Binui for $120 Million

Nati Saidoff is selling approximately 4% of his shares in the real estate and infrastructure company Shikun & Binui for about 450 million shekels (approximately $120 million). The sale is being conducted through an institutional offering at a discount of about 5% to the current market price.

Following this transaction, Saidoff's ownership will decrease to around 30.4%, but he will retain controlling interest in the company. Shikun & Binui is currently valued at approximately 11.6 billion shekels, meaning Saidoff's remaining shares are worth over 3.5 billion shekels, in addition to the proceeds from this sale.

Saidoff acquired control of Shikun & Binui from Shari Arison in 2018 for about 1.1 billion shekels for a nearly 47% stake. His total investment in the company is estimated to be around 1.4 billion shekels. The company has experienced a volatile period since then, with the value of Saidoff's holdings fluctuating significantly due to factors like high debt, rising interest rates, and a weaker housing market.

This is not the first time Saidoff has reduced his stake. In March 2025, he sold about 4% to Sharon Even-Haim, the company's deputy chairman, for approximately 169 million shekels. Combined, these two sales have yielded Saidoff over 600 million shekels while he still holds a substantial interest.

The sale occurs as Shikun & Binui works to restructure its balance sheet and reduce leverage. The company reported a second-quarter profit of 229 million shekels, up from 153 million shekels in the same period last year, though revenues decreased to about 2.3 billion shekels. A significant planned move is the sale of its energy division, which is expected to bring in up to 2.9 billion shekels after tax and reduce net consolidated debt by up to 5.7 billion shekels, potentially transforming the company's capital structure.