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Taking off to the stock market? Arkia will become a public company - voila! Of money


The stock exchange investment company Technoplus Ventures has signed a merger agreement with Arkie under which the shareholders of Arkie, on the eve of the merger, will hold 76% of the joint company's shares

Arkia's Airbus plane.

One of a fleet of 7 planes (photo: Walla! NEWS system, Airbus)

Technoplus Ventures Ltd., a listed investment company, announced today that it has signed a memorandum of understanding with the tourism and aviation company Arkia Israeli Airlines Ltd.

As part of the memorandum of understanding, Technoplus will purchase Arkia's shares, against an allocation of Technoplus shares so that the shareholders of Arkia on the eve of the merger, as well as other third parties, will hold after the merger 76% of the issued and paid-up share capital of Technoplus.

It was also agreed that the No Shop period will be from today and for a period of 45 days during which Arkie and Technoplus will not negotiate with other entities and will not enter into or agree to enter into any conflicting agreement or the execution of which may thwart or make it difficult to carry out the transaction.

Arkie is represented by attorney Ronen Kantor from Doron, Tykotsky, Kantor, Gutman, Ness, Amit Gross & Co., who has been accompanying Arkie for a long time in all its merger moves, including with El Al and others. The investment banker in the aforementioned transaction on behalf of Arkie is Ilan Nir of Portofino Investments Ltd.

Gadi Teper, CEO and Chairman of Arkia

, said that "This is a significant step for Arkia. We believe that the merger with a public company will allow Arkia to grow and develop as well as equip itself with additional aircraft, expand the range of services provided to customers with the exit from the Corona crisis, open additional avenues to the investing public and achieve achievements in the aviation and tourism industries in Israel and around the world."

Gadi Teper, Chairman and CEO of Arkia (when signing a cooperation agreement with the Olympic Committee in preparation for the Paris 2024 Games). "A significant step" (photo: official website, Oded Karni, courtesy of the Israel Olympic Committee)

Thanks also to Prof. Yaron Zelicha

Teper added: "On this occasion, I would like to thank the dedicated Arkia employees for their cooperation and their great contribution to Arkia's march to new heights, to Avi Hormero (CEO of the Jordash Israel Group and representative of the Nakash family in Israel), to Prof. Yaron Zelicha (Chairman of Tut Tourism and Aviation Ltd., a company of Arkia employees), to Mr. Ilan Nir of Portofino Investments, to Ronan Kantor, an attorney who accompanies us during this significant process, as well as to Arkia's management and its dedicated customers."

Arkia Israeli Airlines Ltd. is an Israeli airline and tourism company with domestic and international operations, and owns a fleet of 7 aircraft.

The controlling owners of the company before the merger with Technoplus are the brothers Joe, Rafi and Avi Nakash who own about 70% of Arkia's shares, with 30 The remaining % are held by Arkia employees who are unionized under Tut Tourism and Aviation Ltd.

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Source: walla

All business articles on 2022-12-14

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