Shikun Binui

Generation Capital raised 1.2 billion shekels in an institutional bond offering to fund its upcoming acquisition of Shikun & Binui Energy amid strong financial results.

Israel's economy sees massive shifts as a 4.5 billion shekel energy deal advances, tech firm OpenWeb faces a 177.5 million shekel debt crisis, and retail giants slash smartphone prices.

Shikun & Binui CEO Amit Birman discusses the strategic sale of its energy arm for 4.45 billion NIS, the company's shift to contracting, and its financial turnaround.

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.

Tel Aviv trading closed lower as the TA-35 fell 0.81% to 4,276.22 points and the TA-90 dropped 1.42%. Equity turnover reached NIS 3.6 billion amid broad declines in real estate.

Harel Insurance has increased its stake in Shikun & Binui to 8.43% after acquiring 17.91 million shares for 320 million NIS in an off-market transaction completed on September 3, 2026.

The Generation fund is nearing the acquisition of Shikun & Binui Energy for 4.2 billion shekels, after the parties reached understandings on the compensation mechanism in case the deal is not completed. Now the parties are preparing to finalize the last agreements and have the merger examined by regulators, who are concerned about the concentration in the electricity production sector.

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.