Generation Fund

Shikun & Binui shareholders overwhelmingly approved selling Shikun Energy to the Generation Fund for NIS 4.45 billion. The deal requires further regulatory approvals and includes a NIS 300 million penalty clause.

Nofar Energy is acquiring a stake in the yet-to-be-built power plant from Phoenix and private owners. The deal includes an option to purchase the entire station should regulators require it.

This is not the first time that Shikun & Binui and Generation have pushed back the deadline in a deal of more than 4 billion shekels that could change the balance of power in the Israeli energy market. In the background, the Keystone offer by Navot Bar continues to hover.