Rani Tzim Buys Stake From Hajjaj Brothers, Potentially Ending Partnership
Translated & summarized from TheMarker by baba
Rani Tzim, founder of Rani Tzim Shopping Centers, is buying up to 15% of the company's shares from the Hajjaj Group. The initial purchase of 7.5% for NIS 75 million comes at a 30% premium. Tzim can increase his stake to 44% within a year, potentially ending the joint control agreement.
The story in 4 lines · by baba
- Rani Tzim is acquiring up to 15% of Rani Tzim Shopping Centers from the Hajjaj Group.
- The initial purchase of 7.5% of shares is for NIS 75 million, a 30% market premium.
- Tzim can increase his stake to 44% within a year, potentially ending joint control.
- The deal is expected to return exclusive control of the company to Rani Tzim.
Rani Tzim, founder and chairman of Rani Tzim Shopping Centers, has signed an agreement to purchase up to 15% of the company's shares from the Hajjaj Group. This move is expected to return exclusive control of the company to Tzim.
Tzim will acquire approximately 7.5% of the shares from the Hajjaj Group for NIS 75 million, representing a 30% premium over the market price. Within a year, Tzim has the option to increase his stake to 44%, which would allow him to dissolve the joint control agreement with the Hajjaj brothers.
