Rami Levy Real Estate Completes Merger, Subsidiary to Be Delisted
Translated & summarized from Ice by baba
Rami Levy Real Estate has merged with its subsidiary, which will be delisted. The company also recently acquired a controlling stake in a contracting firm and is leasing significant space for a new supermarket in Mazkeret Batya.
The story in 5 lines · by baba
- Rami Levy Real Estate merged with its wholly-owned subsidiary.
- The subsidiary will be delisted from the Companies Registrar.
- The company recently acquired a controlling stake in a contracting firm.
- Rami Levy will lease 3,500 sqm for a supermarket in Mazkeret Batya.
- The supermarket lease is part of a deal with Eran Zahavi and Avi Arbiv.
Rami Levy Real Estate has finalized its merger with its wholly-owned subsidiary, S.B.H. Sha'ar Le'Yerushalayim Ltd., according to a company report to the Tel Aviv Stock Exchange. As a result of this move, the subsidiary will be removed from the Companies Registrar without liquidation, with all its business activities, assets, and liabilities transferring to Rami Levy Real Estate in their current state. Rami Levy confirmed the merger's registration with the Companies Registrar.
The subsidiary, S.B.H. Sha'ar Le'Yerushalayim, operates in the Israeli real estate sector and holds a 33.6% stake in the Vision project (Sha'ar South). The company's board of directors, which approved the merger in late June, determined that the company would still be able to meet its obligations to creditors following the consolidation.
This development follows Rami Levy's decision in late August to increase his real estate holdings despite a market slowdown. His company signed a binding agreement to acquire control of the private contracting firm "Reishit Binui V'Nihul Projectim," a high-classification company (G5). Under this agreement, Rami Levy Real Estate will hold 80% of the contractor's share capital in exchange for its nominal value. Additionally, Rami Levy will provide the acquired company with a NIS 13 million owner's loan at a Prime + 1.5% interest rate. This loan is primarily intended to cover the company's debts to banks, tax authorities, and employees, and to clear existing encumbrances.
In related news, former football star Eran Zahavi and his business partner Avi Arbiv recently signed a significant new lease agreement with Rami Levy for commercial space in their complex located in the Mazkeret Batya industrial zone. The project is currently undergoing rapid development and construction, with occupancy expected in early 2027. Rami Levy's supermarket chain will lease approximately 3,500 square meters for a large supermarket, marking a key expansion for Zahavi and Arbiv's business activities in the area.
Mentioned
Not the same event — other stories that share this one’s people, places, or theme: background, reactions, and follow-ups.
