Aura Group Acquires Beit Bakfar In Landmark $470 Million Deal
Translated & summarized from TheMarker by baba
Aura Group is acquiring a 100% stake in Beit Bakfar, a prominent Israeli protected housing company, for approximately 1.7 billion shekels. The deal includes cash and Aura shares, adding 975 existing units and potential for 884 more to Aura's portfolio. Beit Bakfar will become a private entity controlled by Aura Group following the transaction's completion.
The story in 4 lines · by baba
- Aura Group is acquiring Beit Bakfar for 1.7 billion shekels, expanding into protected housing.
- The deal includes 1.15 billion shekels in cash and 550 million shekels in Aura shares.
- Beit Bakfar currently operates 975 housing units with plans for 884 more.
- The acquisition will make Beit Bakfar a private company controlled by Aura Group.
Aura Group is expanding its operations into the protected housing sector with the acquisition of a 100% stake in Beit Bakfar, a leading and established company in Israel's protected housing market. The total transaction value is approximately 1.7 billion shekels (around $470 million), comprising 1.15 billion shekels in cash and 550 million shekels in Aura shares, valuing the company at 5.5 billion shekels. This acquisition will integrate a revenue-generating business into Aura Group, which currently includes 975 housing units and has potential for an additional 884 units across three development projects. Upon completion of the deal, Beit Bakfar will become a private company under Aura Group's control.
