Following the announcement to the stock exchange of Shemen Industries:
The JTLV3 Fund and businessman Zvika Ben Zvi, the owner of the Orsher logistics company, announced this morning (Mon) that they signed a conditional deal with Shemen Industries controlled by Haim Fink, under which the joint logistics activities of JTLV and the owners will be merged of the Orsher company into the public company Shemen Industries, which is expected to change its name to 'Shemen Real Estate'.
After approval of the merger, Shemen Real Estate will become the yielding real estate arm in the fields of logistics, industry and joint storage, of all entities. The company will be held under joint control By the current controlling owner of Sheman Industries, Haim Fink, JTLV3 and Zvika Ben Zvi.
The co-owners of the JTLV fund, from right to left: Ariel Rotter, Amir Biram and Shlomo Gutman (Photo: Sharon Gabai)
JLTV: What does she bring to the new partnership?
In 2022, the JTLV3 fund, a fund specializing in real estate investments, together with the owner of the logistics company Orsher (an old company that has been active for about 40 years, providing logistics services in a variety of activities adapted to the supply chain and customer needs in the areas of storage, distribution and value-added activities), established A strategic partnership designed to operate in the field of real estate by and through the establishment of logistics centers, industrial and storage buildings, some of which were even pre-leased to the Orsher company.
This platform owns three complexes intended for profitable real estate projects in the fields of logistics and industry and they will be merged, against the allocation of shares, into the company Oil that owns a significant and unique land division in the hinterland of a port in Haifa.
The existing partnership of JTLV currently owns about 25 dunams of land in the northern industrial zone of Ashdod, on which an old logistics center of the Orsher company operates, and which is to be expanded into a modern logistics center with an area of about 32 thousand square meters that has been leased entirely and in advance for a long period to the Orsher company.
In addition, the partnership owns 2 additional lands;
The first - land in an area of approximately 37.5 dunams in the Ariel industrial area (with partners, the partnership's share is 60%) requested, intended for the establishment of a significant logistics center alongside commercial areas;
The second - land with an extent of about 45 dunams in the new employment area in Ofakim (next to the new road 2411), which grants many construction rights for employment uses, including logistics centers.
The public Shemen Industries Company: has existed for 117 years
The Shemen Industries company, which was established 117 years ago (in 1905), was for many years one of the largest industrial companies in Israel.
Owned by a private oil company, which housed the historic oil factory, in an area of approximately 86 dunams and located in a strategic and unique location adjacent to the old Haifa port (the privatization of which ended not long ago).
With the closure of its industrial activity, the company began working to develop the property in the field of real estate for logistics.
According to Haim Fink, chairman of Shemen Industries Ltd., "I am excited and happy about the strategic partnership with a professional, leading and reputable body in the real estate market such as the JTLV Fund , together with the owners of the Orsher company who have a lot of knowledge, professionalism and experience in the field of logistics, storage and distribution."
More in Walla!
Virtual reality therapy: a treatment for coping with anxiety
in collaboration with zap doctors
Shemen Industries: For years it was one of the largest industrial companies in Israel (Photo: ShutterStock)
Fink further added, "The merged activity with Shemen, which is expected to change its name to Shemen Real Estate, will create a significant and developing public company that relies on the proven professional abilities of all the controlling owners of the company.
The merged company will enjoy a strong financial position (real estate assets and cash amounting to approximately NIS 800 million), which will be reflected in a significant cash balance in its coffers together with the absence of any leverage/debt (both at the company's solo level and at the level of the assets), a fact that will allow the company a potential Significant development and growth, especially in this period and in today's market situation."
In the transaction, the parties will be represented by attorney Itzik Blau and Tami Wagner from the Piron office who represented Shemen, attorneys Tomer Sela, Debi Branson, Ofer Freilich and Eden Soriano from the Mitar office who represented the JTLV fund and attorney Shai Rowa who represented the businessman Zvika Ben Zvi and Orscher
Real estate
Real estate yields
Tags
real estate
