Amos Luzon Sells 20% Stake in Dorad Power Plant for NIS 233 Million
Translated & summarized from Calcalist by baba
Amos Luzon sold 20% of his stake in the Dorad power plant to an institutional investor for NIS 233 million, valuing the plant at NIS 4.4 billion. The buyer is likely Mor Investment House, and the sale requires board approval and may trigger shareholder rights of first refusal.
The story in 5 lines · by baba
- Amos Luzon sells 20% of his Dorad power plant shares for NIS 233 million.
- The deal values Dorad at NIS 4.4 billion, matching a previous valuation from March.
- Mor Investment House is the likely buyer, holding 6.5% alongside Phoenix's 10%.
- The Israeli state owns 37% of Dorad through Shte'a, the largest shareholder.
- Shareholders may exercise rights of first refusal; board approval is required for the sale.
Amos Luzon has sold 20% of his shares in Luzon Energy, representing his stake in the Dorad power plant, to an institutional investor for NIS 233 million. Luzon Energy reported the transaction without naming the buyer, but market estimates suggest the buyer is the Mor Investment House, which is closely linked to Luzon in energy ventures. Luzon holds 33.75% of Dorad's shares, and the deal values the power plant at NIS 4.4 billion, matching the valuation when Luzon acquired Alomay Capital's stake from Ofer Yanai in a competitive process about six months ago in March.
Mor is the second institutional shareholder in Dorad, owning approximately 6.5%, alongside Phoenix, which holds 10%. The largest shareholder is the state, through Shte'a, with 37%, while Edeltec owns 18.75%. Shareholders in Dorad may claim a right of first refusal on the sale, and the transfer requires approval from Dorad's board of directors.
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