Big Shopping Center Company Controlled by Yehuda and Roni Naftali (58%) officially became the controlling owner of the company yesterday Epic Properties, Having successfully completed a takeover bid (by way of an exchange of shares) for the purchase of 37.52% of the shares. The scope of the deal is estimated at NIS 1.6 billion. To date, Big has held 22.81% of Efi Properties. The largest shareholder in the company other than Big is Mega Or, which has so far held 21.3% of its shares. As part of the takeover bid, Mega Or sold half of its holdings (11.09%) in Buffy Properties for 7% of Big’s shares.
Big originally offered to acquire up to 47.2% of Efi Properties shares. Big, which is traded on the stock exchange at a value of NIS 5 billion, offered 0.35 shares of its own for one share of Efi Properties. The proposal includes another track, which includes a component of Big’s option. Mega Light and Big About two years ago, they jointly purchased the controlling shares in Effie Properties as part of the debt settlement of Africa Israel (the parent company), although no agreement was signed between them for joint control. Following the completion of the transaction, the Naftali brothers will hold 44% of Big’s shares and 60% of Maffi Properties.
Epic Properties, headed by Eitan Bar Zeev And managed by The father of BrazilIs engaged in Israel in the field of offices for rent, and in Eastern European countries such as Romania, Poland, the Czech Republic, Bulgaria and Serbia is active in the fields of income-producing real estate and the sale of residential apartments. Big, managed by Chai Gallis, owns income-producing real estate worth 9 NIS 1 billion and in land and apartments worth NIS 3 billion. Big owns income-producing properties and land worth an estimated NIS 10 billion.
The acquisition of control of Effi Properties will allow Big to expand its activities in the field of shopping centers in Eastern Europe, for example in Serbia. It will also make it possible to save on expenses and increase synergy in operations.