Two Israeli Real Estate Firms, Masad Oz and America Israel, Merge
Two private Israeli real estate companies, Masad Oz and America Israel, have finalized a full merger through a stock exchange, pending regulatory approvals including from the Competition Authority. The deal follows Masad Oz's December acquisition of a 30% stake in America Israel, during which Masad Oz integrated its residential development operations into America Israel, which is controlled by Shimshon Harel and Pini Cohen, former CEO of Africa Israel.
Under the new structure, Pini Cohen will serve as chairman of the merged entity, and Alon Stauber, founder and CEO of Masad Oz, will be its CEO. Masad Oz, established 30 years ago by Stauber, manages engineering projects valued at approximately NIS 40 billion and employs 250 engineers. In recent years, it expanded into residential development, logistics, and income-generating real estate in London.
America Israel's shareholders, besides Cohen and Harel, include Migdal and Mercantil. The merger aims to combine America Israel's business development activities with Masad Oz's engineering and project management capabilities, while also consolidating their development ventures. The merged company intends to go public within one to two years, targeting a valuation of hundreds of millions of shekels.
Both leaders expressed optimism about the synergy created by the merger. Pini Cohen stated it would be a significant force multiplier of experience, capabilities, and resources, fostering unity among partners and maximizing performance, with aspirations for significant expansion and growth. Alon Stauber highlighted the complementary strengths, with America Israel bringing extensive development and residential experience, and Masad Oz contributing proven expertise in large-scale, complex project engineering and management. He also noted the merger as a step towards becoming a public company, contingent on operational development and capital market conditions.
