Amos Luzon Sells 20% Stake in Dorad to Institutional Investor for 233 Million Shekels
Amos Luzon is selling 20% of Luzon Energy shares, representing his stake in the Dorad power plant, to an institutional entity for 233 million shekels. The deal values the station at 4.4 billion shekels.
Amos Luzon is selling 20% of the shares of Luzon Energy, representing his stake in the Dorad power plant, to an institutional entity for 233 million shekels. The Luzon Group reported the deal without naming the investor; however, market estimates suggest it is the Meitav investment house, which is active in energy projects alongside Luzon.
Luzon holds 33.75% of Dorad's shares, and the transaction reflects a valuation of 4.4 billion shekels for the facility. This is the same valuation at which Luzon acquired the stake held by Ofer Yannay's Ellomay Capital during a BMBY auction process last March.
Meitav will become the second institutional investor to hold Dorad shares (approximately 6.5%), alongside The Phoenix, which holds 10%. The state, through STAA, remains the largest shareholder with 37%, while Edeltech holds 18.75%. Dorad's shareholders may exercise a right of first refusal, and the transfer of shares remains subject to approval by the Dorad board of directors.
