Super-Power Buys Paz Gas Electricity Operations for $7 Million
Translated & summarized from TheMarker by baba
Super-Power Partnership is acquiring Paz Gas's household electricity supply operations for approximately 15 million shekels, with potential future payments. The deal reflects ongoing consolidation in the electricity sector due to profitability issues.
The story in 4 lines · by baba
- Super-Power Partnership is acquiring Paz Gas's household electricity operations.
- The deal is worth approximately 15 million shekels plus future incentives.
- Super-Power is jointly owned by Supergas Power and Enlight.
- The electricity supply market is expected to see further consolidation.
Super-Power Partnership, owned by Supergas Power (65%) and Enlight (35%), has signed an agreement to acquire Paz Gas's electricity supply operations for households. The deal is valued at approximately 15 million shekels, with an additional 8-10 million shekels contingent on future performance.
Industry analysts anticipate a continued consolidation within the electricity supply sector, as companies face profitability challenges.
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