Niv Sarna Appointed CEO of NewMed Energy as Tel Aviv Market Awaits Trading Week
Niv Sarna, who has served as chairman of NewMed Energy since June 1, will become the company’s CEO on August 1, replacing Yossi Abu after 15 years. Sarna, 55, brings over 20 years of experience in the energy sector, including leadership roles at Tamar Gas Field Partnership, Noble Energy, and Delek Group. He holds an MBA from the University of Chicago Booth School of Business and a civil engineering degree from the Technion.
Mega Or, controlled 36.3% by Tzachi Nachmias, is expanding its land holdings in Hadera to develop one of Israel’s largest data center complexes. The company recently acquired 15.6 dunams from Keslo, a subsidiary of Shneff, for 95 million shekels, a transaction disclosed by Shneff without naming the buyer.
Ackerstein Group is acquiring an 85% stake in EcoWall from Tadmor Group and other shareholders for 47 million shekels, valuing EcoWall at 55 million shekels. Tadmor, currently holding about 33%, will sell all its shares. Ariel Pokotinsky will remain CEO and retain a 15% stake.
The Israeli Antitrust Authority is expected to approve the sale of credit card company CAL to Union, owned by George Horash, and Harel Insurance. After the deal, Union will hold 80% and Harel 20%. This follows a recent reversal by the authority after a critical meeting two weeks ago.
As the Tel Aviv Stock Exchange prepares to open for the new trading week, global markets show mixed signals. U.S. futures are rising amid hopes for de-escalation in Iran following the White House’s suspension of military strikes. Brent and WTI crude oil prices have dropped sharply by over 4%, potentially impacting Israeli energy stocks. The 10-year U.S. Treasury yield slightly declined to 4.63%, after a recent rise.
Overall, the market awaits developments in global energy and geopolitical tensions while key Israeli companies undergo leadership changes and strategic expansions.
