Tadiran Acquires Arena Mall Stakes for NIS 56.2 Million Ahead of June IPO
Ahead of its planned IPO on the stock exchange in June, Tadiran executed several transactions with its controlling shareholders and their relatives. The largest deal involved purchasing rights in the Arena Mall in Herzliya from a private company owned by Tadiran controlling shareholders Gil Geva and Mark Weisman. These details were disclosed in Tadiran's first financial reports since the IPO, published on Tuesday.
Geva and Weisman initially invested in Arena Mall in 2016 through Tiger Joy as part of a deal led by Realty Fund to acquire the mall for NIS 335 million. Realty and a Canadian company acquired 65% of the mall, Phoenix Insurance bought 25%, and Geva and Weisman, via Tiger Joy, purchased 10% for NIS 33 million. In the newly reported transaction, a Tadiran subsidiary, which owns 50% of the Ritz Carlton hotel above the mall alongside Canadian businesswoman Kaylan Sherman (holding the other 50%), bought half of Tiger Joy's stake in the mall. Tiger Joy held 10% and was expected to acquire an additional 6%, so the acquired rights represent 8% of the mall.
The Tadiran subsidiary will pay NIS 48.2 million for the mall space rights and NIS 8 million for 8% of the parking area, totaling NIS 56.2 million. This price is estimated to reflect market value. Tadiran already has a direct connection to the complex through its Ritz Carlton hotel ownership. The acquisition adds parking space and may enable future purchases of additional parts of the complex.
Alongside the Arena deal, Tadiran completed several other transactions with controlling shareholders and their relatives. In March 2026, Tadiran signed an agreement with one controlling shareholder to buy two units in the CU project in Ramat Hahayal, totaling 145 square meters for NIS 2.2 million. In May, another agreement was signed with a relative of a controlling shareholder to purchase two units totaling 101 square meters for NIS 3.6 million. Additionally, Tadiran bought an apartment from a controlling shareholder's relative for NIS 11.9 million, which the company stated was sold at market price.
