Mivtach Shamir subsidiary Shamir Energy invests in energy production from both conventional and renewable sources.
The energy market is once more interesting investors. Clal Insurance Enterprises Holdings (TASE: CLIS) will invest up to NIS 319 million in Shamir Energy, a subsidiary of Mivtach Shamir Holdings (TASE: MISH), which is active in technology, energy, real estate, and finance. Clal Insurance will invest NIS 306.3 million for 20% of Shamir Energy, and will invest a further NIS 12.5 million if Shamir Energy reaches certain targets. The investment thus values Shamir Energy at NIS 1.6 billion, before the money.
RELATED ARTICLES
MRC obtains NIS 1.65b loan for Alon Tavor acquisition
As power shortage looms for Israel, solutions lag
The announcement of the investment sent Mivtach Shamir’s share price up 16.5% yesterday, giving it a market cap of NIS 1.18 billion. The share price has risen 57% in the past year. The main shareholders in the company are its CEO Meir Shamir, with a 40% stake, Clal Pension and Provident Funds (12.4%), and Leon Recanati (9.25%)
Shamir Energy deals in energy production from conventional, solar, and bio-gas sources and energy storage. It has invested in the Alon Tavor combined cycle power plant, and in Kesem Energy.
Published by Globes, Israel business news – en.globes.co.il – on February 19, 2024.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
Meir Shamir credit: Cadya Levy
