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Economy05:47 · 1h ago

Aspen Group Completes Major Deal, Acquires Control of Reik Real Estate

By איציק יצחקי
Translated & summarized from Ice by baba
The story · English

Aspen Group has finalized a significant acquisition, increasing its stake in Reik Real Estate to 66.7%. The deal, which began with Aspen Group deciding to increase its holdings last month, also saw entrepreneur Dudu Ben Zaken become a partner, holding the remaining third of the company. The total transaction is valued at approximately 150 million shekels, with Aspen Group investing 50 million shekels and Ben Zaken financing the rest of the shares he acquired. This second stage of the deal was completed yesterday, solidifying Aspen Group's majority control. Reik Real Estate's CEO, Yossi Reik, will continue in his role. The company also announced an increased stake in its subsidiary, Reik-Aspen (formerly Landmark), a urban renewal arm, now holding 93.87% of it. Aspen Group's initial move to acquire 50% of Reik Real Estate occurred in March 2024, marking its first transaction after becoming a shareholder in the Australian-Israeli company. Reik Real Estate specializes in initiating and advancing urban renewal projects.

Read the original at Ice
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