Azur and Agility Become Major Shareholders in Eco Atlantic
Translated & summarized from Bizportal by baba
Businessman Eli Azur and hedge fund Agility have become significant shareholders in oil and gas exploration company Eco Atlantic, acquiring an 11.71% stake after participating in a $7.7 million capital raise. Agility holds 5.76% and Azur holds 4.15%, both exceeding the 3% reporting threshold. Eco Atlantic is a strategic partner of Navitas, led by Gideon Tadmor, in exploration projects in South Africa, Guyana, and the Falkland Islands. The investment follows recent positive developments for Eco Atlantic, including government approvals and the rejection of environmental appeals.
The story in 5 lines · by baba
- Eli Azur and Agility now hold a combined 11.71% stake in Eco Atlantic after a $7.7 million capital raise.
- Agility holds 5.76% and Eli Azur holds 4.15% of Eco Atlantic, exceeding the 3% reporting threshold.
- Eco Atlantic is the strategic partner of Navitas, led by Gideon Tadmor, in oil and gas exploration.
- The companies are collaborating in South Africa, Guyana, and plan cooperation near the Falkland Islands.
- Recent positive developments include Namibian government approval for BP and rejected environmental appeals in South Africa.
Businessman Eli Azur and the hedge fund Agility have become significant shareholders in the oil and gas exploration company Eco Atlantic, managed by Gil Holzman. According to data obtained by Bizportal and revealed for the first time, Agility now holds 5.76% of the company's shares, while Azur holds 4.15%. Together, this represents an 11.71% stake in the company. Both investors acquired their shares after participating in a capital raise of approximately $7.7 million. The full details are expected to be published later today in a stock exchange report. These figures are particularly noteworthy as both investors have crossed the 3% threshold, which requires reporting a substantial holding according to company rules. Agility already holds over 5% of the equity, while Azur is approaching that threshold. Both are well-known names in the local capital market; Azur holds about 25% of Tamar Petroleum, one of the partners in the Tamar field, and Agility manages hedge funds worth billions of shekels. Beyond the identity of the investors, the broader Israeli context is also significant. Eco Atlantic is the strategic partner of Navitas, led by Gideon Tadmor, in an oil and gas exploration cooperation that could last up to ten years. The two companies are collaborating in South Africa, advancing a deal in Guyana, and planning further cooperation in the Falkland Islands, near Navitas's large Sea Lion project. The investment also comes at an interesting time. After months of pressure on Eco's stock due to delays in closing deals and geopolitical turmoil surrounding the Falklands, several positive developments have occurred in recent weeks. The Namibian government approved BP's entry into its licenses, and in South Africa, appeals against the environmental approval for a license in which Eco Atlantic is a partner with TotalEnergies were rejected.