Phoenix, Migdal, and Harel Join Generation Fund in Acquiring Shikun & Binui Energy
How 2 Israeli newsrooms covered this story — translated into English and compared side by side.
First reported by Globes · 5 hours ago
What happened
Phoenix, Migdal, and Harel join Generation Fund's energy arm PowerGen in acquiring Shikun & Binui Energy, valuing PowerGen at 7.7 billion shekels post-merger. Phoenix gains 12.4% of PowerGen shares in a deal worth 3.25 billion shekels, while Migdal and Harel plan significant investments contingent on the acquisition's completion. The transaction restructures Phoenix's preferred shares and is part of a broader financing package prepared by Generation.
- 01Phoenix acquires 12.4% of PowerGen shares in a 3.25 billion shekel deal.
- 02Migdal and Harel to invest 500-800 million shekels after Shikun & Binui Energy acquisition.
- 03PowerGen's post-merger valuation expected at about 7.7 billion shekels.
- 04Phoenix sells preferred shares back to Generation for 187 million shekels.
- 05Generation expects 270-320 million shekels pre-tax profit in Q2 from the deal.
- 06Generation raised about one billion shekels and holds 1.8 billion shekels in cash and credit.
Summary translated & synthesized from the sources below by baba. Read each original for the full report.
Full coverage · 2 outlets
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