Shamir Energy, a subsidiary of Mivtach Shamir, invests in energy production from conventional and renewable sources.
The energy market is once again of interest to 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), active in the fields of technology, energy, real estate and finance. Clal Insurance will invest NIS 306.3 million for 20% of Shamir Energy, and will invest an additional NIS 12.5 million if Shamir Energy achieves certain targets. The investment thus values Shamir Energy at 1.6 billion shekels, before money.
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The announcement of the investment caused Mivtach Shamir’s share price to rise by 16.5% yesterday, giving it a market capitalization of NIS 1.18 billion. The stock price is up 57% over the past year. The company’s main shareholders are its CEO Meir Shamir, with a 40% stake, Clal Pension and Provident Funds (12.4%) and Leon Recanati (9.25%).
Shamir Energy deals with energy production from conventional, solar and biogas sources, as well as energy storage. It has invested in the Alon Tavor combined cycle power plant and Kesem Energy.
Published by Globes, Israel Business News – fr.globes.co.il – February 19, 2024.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
Credit Meir Shamir: Cadya Levy
