Court Approves Sale of Israeli Wipes Company Dynamik to Ronen Elad for 198 Million Shekels

The Beersheba District Court has approved the sale of Dynamik, a wipes manufacturing company based in Ashdod, to Ronen Elad for 198 million shekels. Dynamik, owned by Yaron Nakar, faced financial difficulties with debts totaling 294 million shekels, mainly owed to Bank Leumi and Mercantile Bank. The company struggled to repay these debts following the Iron Swords military operation. Much of the debt arose from the construction of a new factory in Timorim, intended to consolidate operations from its two existing plants in Ashdod and Heftziba. Dynamik also operates in the United Kingdom.

Initially, David Forer and the company Neopharm offered 169 million shekels for Dynamik, later increasing their bid to 178 million shekels. However, the court sided with the trustees Avichai Verdi and Alon Fraski, who, based on a legal opinion from the Nashitz law firm, determined that Elad's offer had a significantly higher regulatory feasibility than Forer's. This regulatory advantage was a key factor in the court's decision to approve Elad's purchase proposal.