Yitzhak Tshuva also leaves his holdings in television (22%) and sells his share in the Keshet media company (Channel 12). Calcalist has learned that a new investment fund – Rakia, along with a group of investors, has signed the acquisition of the holdings of Gal Naor, Tshuva’s daughter, for about NIS 50 million.
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Gal Naor bought the shares from Bank Leumi in 2010 for $ 6 million, so this is a profit of more than twice the investment. The deal reflects a value of NIS 226 million per arc. This is the highest value in the history of Sagittarius.
Isaac Answer Photo: Eyal Toug
Rakia acquires Keshet together with two large investors, Phoenix and hotelier David Fattal at the helm. The fund is managed by Ravid Kimia. Upon completion of the transaction, the purchaser is expected to be the second largest shareholder in the application, with Dudi Wertheim remaining the controlling shareholder in it. Completion of the transaction is subject to obtaining the approvals required by law.
Kimia, co-director of the Rakia Fund, served in his most recent position as Deputy CEO, CFO and VP of Business Development at Tadiran Holdings. Prior to his appointment, he served as VP of Investments at Discount Capital. Kimia founded an absolute value company that specialized in initiating and accompanying transactions. Prior to that, he managed the real estate investment division at Migdal Insurance Company.
Ravidi Kimia, managing partner in the Rakia Foundation Photo: Tamar Mutzafi
According to Kimia, Rakia will invest in Mid Cap companies, which are usually not in the focus of investment funds and institutional entities. The fund will focus on financing growth, with a managerial and business contribution, with a typical investment amounting to NIS 50-70 million.
“As part of our search for suitable investment companies, we located Keshet, one of the leading content and media groups in Israel. Under the leadership of Avi Nir, the company’s CEO, Keshet has presented a management strategy over the years that has led to building a leading and dominant brand in Israeli television. “In addition to being a leading content producer for the worlds of television and digital, we believe that there is great potential in Keshet’s international operations, as one of the world’s leading content providers for television,” Kimia told Calcalist.
Keren Rakia was represented in the transaction by attorneys Sharon Amir, Meital Zimberg Lederman and Avishai Eliasch from Nashitz Brands Amir, and Adv. Noga Rubinstein from Crispin Rubinstein Belcher. GN was represented by attorneys Lior Porat and Neta Peled from the Gornitzky firm.