Amos Luzon Nears Major Deal to Sell 20% Stake in Energy Infrastructure for NIS 223 Million
Amos Luzon's group is negotiating the sale of a 20% stake in Luzon Energy Infrastructure for approximately NIS 223 million. Luzon Energy Infrastructure is a privately held company fully owned by the Luzon Group and holds shares in the Dorad power station through Dorad Energy. Currently, the Luzon Group owns about 33.75% of Dorad, with the transaction valuing the Dorad power station at around NIS 4.4 billion.
The parties have signed a memorandum of understanding, which is not yet a binding agreement, outlining the terms for completing the deal. The finalization of the sale depends on obtaining necessary approvals, signing a detailed agreement, and completing due diligence to the buyer's satisfaction. A 60-day exclusivity period has been set for signing the detailed agreement. If the deal is not completed within six months, the memorandum will be canceled unless an extension is agreed upon.
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