Tnufort-Yishpro Partners Join Tzachi Abu in G City Control Acquisition

In a surprising development in the G City acquisition deal, Tzachi Abu and his company Ari Real Estate have brought in new partners to purchase control of the company from Haim Katzman. The new partners are Tnufort-Yishpro, fully owned by businessmen Kidan Dahari and Yaron Adiv. Although the merged company is private, its bonds are traded on the Tel Aviv Stock Exchange. The parties informed Katzman of the move yesterday, with Tnufort-Yishpro set to hold half of the deal.

Originally, Ari Real Estate was to acquire 26% of G City shares for 661 million shekels, with an option to buy an additional 7%. Since the deal was signed, Ari Real Estate's value has significantly declined, prompting Abu to mitigate the purchase risk by bringing in partners. Dahari and Adiv were among the contenders seeking control of G City even before Abu finalized his acquisition agreement.