Maman Takes Full Control of Lauber Aviation in Deal

Maman Cargo Terminals and Handling has completed its acquisition of the remaining minority shares in Lauber Aviation GHI, thereby increasing its stake in aviation services. The company announced Sunday that it had purchased the full minority stake, previously held by Lauber Holdings. Prior to this deal, Maman held 58.52% of Lauber Aviation, with Lauber Holdings owning the remaining 41.48%.

The agreement, finalized on September 24, involves a base payment of approximately 18 million shekels. Of this, 16 million shekels were paid upon signing, with the remainder due by January 1, 2028. Additional performance-based payments, capped at around 4 million shekels, could bring the total acquisition cost to approximately 22 million shekels.

This transaction concludes the joint ownership structure of Lauber Aviation, transferring the minority partner's economic share to Maman. Although Lauber Aviation was already fully consolidated in Maman's financial reports, the deal primarily impacts future profit distribution and shareholder relations. The transaction also includes separate financial arrangements, such as settling Lauber's debt to the minority shareholder and distributing a 7.8 million shekel dividend to the shareholders as they were before the deal's completion. Maman stated it would fund the purchase using its own resources.

Concurrently, Maman and a party related to the minority shareholder signed a consulting and non-compete agreement, which Maman described as not financially material to the company.