Ariel Rotter and Amir Biram enter Donitz – the capital market

JTLV2 Real Estate Fund of Amir Biram, Ariel Rotter and Shlomo Gutman invests in

Donitz
0%

Base:11,580

opening:11,580

High:11,660

low:11,330

change:199,199

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And acquires a significant stake from its controlling shareholders. The fund will receive 17% of the capital and 22.5% of the voting rights in it in exchange for about NIS 18 million, Donitz reported to the stock exchange.

As part of the transaction, the controlling shareholders of Donitz, Yaakov Donitz and Nissim Ahiezra will sell to JTLV 2 approximately 580,000 shares and 290,000 shares each, respectively. The deal is made at a price of NIS 135 for a Donitz share, which reflects a premium of 28.5% on the closing price today and a company value of about NIS 700 million. Since Donitz recently announced the distribution of a dividend of NIS 10 per share, in practice JTLV 2 will pay a price of NIS 145 against each share of Donitz.

Donitz is mainly involved in the field of urban renewal and has 5 projects that are in various stages, in Tel Aviv, Givatayim, Ramat Hasharon and more. In the last 12 months, the share has risen by 21.5% and is currently traded at a value of NIS 540 million.

JTLV 2 is a real estate investment fund established in 2019 by Amir Biram, Ariel Rotter and Shlomo Gutman and specializes in real estate improvement. The fund raised about a billion shekels. Its portfolio includes projects in Atarim Square in Tel Aviv, the Kich and Etz HaChaim complex in the Mahane Yehuda market in Jerusalem, a plot in the 1000th complex in Rishon Lezion, and the MDA complex in Basel Square in Tel Aviv. Last May, the Mitzhak Tshuva Foundation bought the Elad Residential Company (approximately 70%), which operates in the field of initiating and developing residential complexes.