“As part of our ongoing global expansion, the new acquisition represents an incredible opportunity to develop and reach the consistently growing Israeli market,” said Rob Pierre, CEO of Jellyfish. Perelview offers a great variety of digital specialties, and we knew from the first moment that we had a match. We are pleased to welcome their team, which will become part of the Jellyfish Group. “
“This move will enable us to lead our business partners here, and at the same time expand our international activity,” said Roni Perlman, Partner and Founder of Perelview, “There is a greater message of trust in our people and the positive impact on us as a full-stack digital agency. As Jellyfish chooses to open an extension in Israel, casts a spotlight on the entire industry and shows that it understands the potential and importance of the entire digital industry in Israel. “Praszmarket is purchasing four supermarket branches in Bat Yam for NIS 138 millionThe annual sales turnover of the Super Dosh chain is estimated at NIS 400 million, compared with a turnover of NIS 1 billion for the buyer, which announced earlier this week that it would distribute a huge dividend. Prashmarket, which plans to continue operating the branches under the strong local brand, 4% -5%The Prismmarket Network(700.7 + 0.46%)
Which is controlled by the Shlomi brothers and Yossi Amir, has made a significant acquisition since it was floated on the Tel Aviv Stock Exchange two months ago.Prashmakt will pay the chain’s owner, Ezra Dosh, NIS 138 million for the chain, which has four branches in Bat Yam and is considered dominant in the city. The annual sales turnover of Super Dosh is estimated at NIS 400 million, and the completion of the transaction is subject to the approval of the Authority for competition.On the background of the update published by Pressmarket, its share is climbing 4% -5% today, after it jumped 4% at the beginning of the week, after updating a NIS 220 million dividend distributed to shareholders in accordance with its commitment prior to its IPO on May. Overall, the company’s share has grown since it started trading in Tel Aviv by about 7%, and it reflects a current value of NIS 1.2 billion.
In the framework of the current transaction, Prasmarcket will acquire the four relatively large branches (7,185 square meters), equipment and fixed assets, the right to enter into lease agreements with the land owners in which the branches are located, and the seller’s reputation, including its rights in the Super Dosh brand.Praszmarket’s strategy focuses on acquiring networks with a strong local brand, and maintaining the brand name in the networks it purchases. In this transaction, too, it declares that in accordance with the Company’s strategy it intends to “continue to operate and develop the acquired activity in its current format and under the brand name” Super Dosh “.In addition to the consideration for the network, Prismamarket will pay an additional amount for the inventory at the branches that will be purchased at a cost price according to an inventory count that will be made up to the date of completion. The closing date of the transaction was set for August 31, subject to fulfillment of all suspending conditions in the agreement, with the option of postponement for additional periods of up to 90 days.According to Pricermarket’s report, Superdosh’s revenue stood at NIS 416 million in 2017, and gross profit was NIS 98 million. In 2018 revenues were NIS 402 million and gross profit was NIS 101 million. In the first half of 2019 revenues were about NIS 190 million.
Praszmarket notes that the acquisition of the activity is in line with the Company’s business objectives and strategy and will enable it to increase the volume of its activity and expand its areas of activity in Israel. As of the report date, the Company intends to finance the execution of the transaction on the closing date, from independent sources of the Company. The Company estimates that the volume of investments made by the Company in the branches will not be material to the Company.This is the second attempt by the brothers to take control of the Bat Yam chain, after a deal broke out in 2015 in which the price was NIS 150-200 million.Today, Prashmaract operates 31 branches nationwide, under five different brands, including Mercat, Lahav Warehouses, Hyper Dudu, a good tip and food warehouses. Most of them are neighborhood branches operating in city centers, and they span a total area of 22,000 square meters. In 2018, the sales turnover of Praszmarket totaled NIS 1 billion.Super Dosh was founded by the Dush family in 1988, and until 2004 operated one store. Since then it has become a network with the addition of new branches (and the renewal of an existing branch). In 2014, a branch for the ultra-Orthodox sector called Mehadrin also began operating.
Ezra Dosh, formerly the owner of the chain, was linked in the past to the affair of former Bat Yam mayor Shlomi Lahiani. He was even convicted of breach of trust and was sentenced to two months of community service and NIS 60,000 in fines. In the past, it was reported that Dosh admitted that he had given a loan of NIS 200,000 to Lahiani and employed Lahiani’s late father at the Super Dosh branch for years, and Chalhiani, in exchange, “arranged” in a blatant conflict of interest the licensing problems of Super Dosh.Africa Properties acquires full ownership of the Airport City project in BelgradeThe company, whose name is expected to be changed shortly to AFI Properties, will purchase through the subsidiary AFI Europe Tidhar’s holding of € 66.3 million • The Seller will also receive its share in the profits of the project from the beginning of the second quarter until the closing dateAfrica Properties (whose name is expected to change soon to AFI Properties) is expanding its operations in Serbia. Today, the company announced that the subsidiary AFI Europe has signed an agreement to acquire 100% ownership of the Airport City project in Belgrade, Serbia.As part of the agreement, AFI Europe, which currently holds 53.7% of the Airport City project in Belgrade, will acquire the holdings of Tidhar (46.3%) for € 66.3 million. In addition, the Seller will receive its share in the profits of the project from the beginning of the second quarter of 2019 until the closing date of the transaction.
According to the two companies, Airport City is the most successful office park in Belgrade. The park, which was built in 2003, includes nine office buildings for rent, with an area of 90,000 square meters and 97% occupancy, with more than 110 international companies, and an additional office building to be completed in early 2020. AFI Europe will also have construction rights of an additional 180,000 sq.m. for future development.On completion of the transaction, AFI Europe will pay Tidhar € 42.1 million, with the remainder of the consideration being paid in three equal annual installments, in the years 2020-2022. The balance of the consideration will bear variable annual interest, and AFI Europe will be entitled, at its discretion, to advance payment of the balance of the consideration.n addition, the Company will be entitled to an additional consideration of EUR 1.5 million for the rental of an office building in the project (insofar as it is leased), and it will be entitled to an additional consideration (in an immaterial amount) for the development or increase in value of Some land in the project.We intend to continue the momentum of development”The Airport City project in Belgrade yielded, in 2018, gross rental income (NOI) of € 14.1 million, and is recorded in Africa Properties’ books at a value of € 188.6 million, with a cost of € 116 million.The project also includes real estate for construction and land for development, so that the total project assets amount to more than 200 million Euros, against which the project company has a loan of 90-100 million euros that was financed to finance it, according to AFI Europe, .
AFI Europe intends to finance the transaction through its independent sources. As collateral for payment of the balance of the consideration and future payments, AFI Europe will create a lien in favor of the sellers on the purchased shares. Completion of the transaction is subject to the fulfillment of several preconditions, foremost of which is the approval of the banking corporation that provided financing to the project company.
vi Barzilai, CEO of AFI Properties, said: “The Airport City deal is a natural continuation of the company’s operations in Serbia. AFI Europe and the Tidhar Group have been operating together in Serbia since 2004, when they established the leading office park in Belgrade. With the acquisition of full ownership of the project, we intend to continue our momentum of development and development in this project. AFI Europe will continue to take action to realize business opportunities in Belgrade and in our other active countries. “Arieh Bachar, President of the Tidhar Group, added: “Over the past 17 years, we have developed and developed, together with AFI Properties, Airport City Belgrade, the leading and most successful business park in Eastern Europe, and we are realizing our holdings as part of a significant expansion of our operations in Israel. Development of rental properties and residential construction in Israel. “
Brown Hotels Expand: Four Zvieli Group hotels will merge into itThe merger will take place in a management rather than a purchase model. The hotels will undergo branding, which includes change of name and Brown intend to absorb the employees of the four hotelsBrown Hotels continues to grow – the chain merges four hotels of the Zvieli Group into a management model instead of a purchase. Tzvieli’s hotels are located in the center of Tel Aviv: the Townhouse Hotel on the corner of Rothschild and Yavne, which is divided into two buildings: an apartment hotel and a hotel; The De La Mer Hotel, located on Hayarkon Street next to the Brown Beach Hotel (will open as another wing of Beach House); And the Olympia Hotel, located on Hayarkon Street and Ben Gurion Street. De La Mer and Olympia are expected to become residential buildings in a few years, and will then return to Zvieli. The hotels will undergo branding that includes change of name and Brown intend to absorb the employees of the four hotels.Sefi Zvieli, owner of the Zvieli Group, said that “identifying and purchasing quality properties was a milestone in our business development, and therefore we decided to focus on improving assets rather than on current operations.” Zvieli Group focuses on entrepreneurship and development of residential real estate, for rent and sale, hotels and commerce.Such central and potential hotels in Tel Aviv will be integrated into the collection and contribute to the bottom line by the summer of 2019. The merger reflects our confidence in the growing tourism market in Israel and around the world.”
In April, Brown Hotels appointed a new CEO, Shlomi Tahan, who formerly served as VP of operations in Isrotel. The company recently announced the appointment of Danny Cohen, who resigned as head of the banking division at Bank Leumi and chairman of the Brown Hotels group.Brown Hotels is owned by the Leopard Hospital Group of Nir Weizman, Leon Avigad, Nitzan Perry and the Insurance Coaching. Today the chain has 11 hotels, most of them in Tel Aviv. Soon you will open four hotels in Athens and two hotels in Thessaloniki, joining the hotel in Croatia. The chain also plans to open a hotel in Germany and a hotel in Eilat. The expansion of the network is done, inter alia, by converting existing buildings into hotels and by operating and managing existing hotels. According to the network, in about two years it will number 45 hotels with about 4,000 rooms.By the time it will merge into the cannabis company, Sheikh Sarid: What is the outline of the rights issue?The rights issue is intended to meet one of the preconditions for the merger, which has already been approved by the company’s general meeting. • The share price in the rights issue is significantly lower than its market price of NIS 2.9Beyond Time
(222 -0.18%)Which is about to merge the veteran cannabis company, Sheikh Sarid, today announced the outline of the rights issue it is executing just before the merger. The rights issue was intended to meet one of the preconditions for the merger, which has already been approved by the general meeting of the Company. Under the terms of the merger agreement, Beyond Time promised to have at least NIS 38.8 million in its coffers, part of which was already raised in a private placement whose terms have already been set and part of which will now be raised in the rights issue.The share price in the rights issue is significantly lower than its market price. The share price today is NIS 2.9, while in the rights issue each shareholder will be able to buy a share at a maximum price of NIS 0.44, as well as options in the money: NIS 1.34 and NIS 1.03. The company will raise NIS 27.4 million.
The company’s previous publication on the issue of the rights shows that the exercise price of the cheaper options reflects a company value of NIS 325 on a fully diluted basis, while the most expensive options – NIS 420 million before the money immediately after completion of the transaction. Given the exercise of all the options, the company will receive an additional NIS 92 million.The amount raised will be used by the company to finance its ongoing operations and also to buy additional holdings of the Sarid family, which is interested in concentrating its business under the public company. Among other things, Shaykh’s stake in Cannes 10, which is engaged in the marketing of the Kanareet brand, will be acquired and will operate as an accelerator in the development of cannabis products; Trichomon, a company that develops innovative cannabis formulations and Targene, which has developed new methods for growing cannabis. For 50% of McCann 10 will be transferred when the merger of 8.5 million and a total of 20 million, for the minority holdings in Tricomelsal and Targine will pay the Sarid family 5 million shekels, but only after the merged conversation will raise additional capital.
Beyond Time is traded today at a value of NIS 119 million. Sarid’s revenues in the first quarter of 2019 were NIS 5.9 million, an increase of 51% over the same period last year. Operating profit was NIS 1.8 million, a 136% growth over the same period, and net profit was NIS 1.1 million, compared to NIS 1.6 million in the same period last year (the difference was due to revaluation of assets in its favor in the previous quarter).Cash flow was positive – NIS 1.2 million compared to NIS 1.1 million in the same period last year. The company has NIS 3.1 million in cash at the end of the quarter, and inventory valued at NIS 11.7 million.Qualitest is sold to Bridgestone for $ 420 millionAccording to Reuters, the Israeli company was established 22 years ago and is engaged in software testing and quality assuranceQualitest Israel, which is engaged in software testing and quality assurance, announced today that the private investment fund Bridgepoint has acquired control of it. The amount of the acquisition was not disclosed, but according to Reuters, it stands at $ 420 million. Bridge Point acquired control of Marlin Equity Partners, which has held control of the company to date.It is not clear whether part of the amount will go into the company’s coffers or that the fund will invest more money because Qualitast said in a press release that it would use the investment to expand its acquisition strategy, develop additional products and invest in employees.