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A 100% acquisition of RGE shares by the Udi Recanati family has been completed
The Udi Recanati family has completed the acquisition of Len Belvatnik's shares in the RGE Group.
Upon completion of the transaction, Shai Recanati was elected to chair the group
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Sunday, 24 January 2021, 10:17
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Shai Recanati, Chairman of RGE (Photo: PR, PR)
The Udi Recanati family has completed the acquisition of 50% of the RGE Group shares from Access Industries Group of businessman Len Belvatnik.
In this way, the Recanati family became the sole holder of the group, through the company Naftali Investments, which it owns.
As part of the move, Shai Recanati was appointed chairman of the group.
Shai Recanati, who has been appointed chairman of the group approved by the board, has been taking part in the management of the group for the past 16 years.
RGE, one of the leading media groups in Israel, specializes in a variety of content, production and sports activities.
The group owns leading brands in the communications market in Israel, including Sports Channels 5 (5SPORT, 5LIVE, 5PLUS, 5GOLD, 5SPORT4K, 5STARS), the children's channel, Logic Channel and the Knesset channel, which the group won in 2018. Last October, the group launched BIGI, a groundbreaking content platform The first and first of its kind with the streaming service for children and youth.
The platform corresponds with the global trends of bringing content directly to the consumer.
Or Ram and Yaron Segev serve as co-CEOs of the RGE Group.
Naftali Investments was founded in 2003 and coordinates the investments of Udi Recanati's family in Israel.
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