According to FUNDER website data,
170 mutual funds hold NIS 70.04 million in Fattal
Funds that hold significant holdings in the stock – for the full list of holdings
In addition to this data, Altshuler Shaham Storm Stocks Holds shares in Fattal Holdings Missing in scope Of 0.27% of the fund.
The following is a change in the holdings of the mutual funds in Fattal Holdings according to FUNDER-MVF data
The sale and leaseback deal includes the rental of Leonardo Hotel Residence Munich and Leonardo Hotel City West to Fattal for a period of 25 years.
Shahar Aka, director and vice president of finance, said: “The sale of the hotels will create an additional cash flow of about NIS 130 million net and is part of our strategic plan to increase the liquidity of the group, which so far has managed to raise over NIS 1.5 billion for its coffers.
In this transaction, we located an opportunity to sell the hotels in a sale and leaseback deal on favorable terms and with reduced rents of approximately 1.78 million euros per year, for a period of 21 months. At the same time, the company’s hotels in Israel have opened according to the purple mark and we are witnessing great demand. We will continue to operate according to our strategic plan to increase cash flow and reduce expenses until we return to normal operations. ”
Fattal Properties (Europe) has announced that it has signed purchase and lease agreements back for 2 of the company’s hotels in Munich, Leonardo Hotel Residence Munich and Leonardo Hotel City West for NIS 305 million, of which NIS 16 million for renovations. The sale will leave the company with a net cash flow of approximately NIS 130 million.
In addition, Fattal’s management company in Germany, Sunflower, signed a lease agreement with the buyer, according to which the 2 hotels will include 368 rooms, for 25 years with an annual rent of about 2.52 million euros for the Leonardo Residence Hotel and about 0.93 million euros for the Leonardo Hotel City West. It should be noted that the company received a discount due to the corona crisis, which is expressed in a payment of only 1.78 million euros per year, for a period of 21 months. Completion of the transaction is subject to a number of conditions precedent.
The chain’s operations in Europe include 169 hotels (including hotels under construction). Hotels are located in the following countries: Germany, the United Kingdom (including England, Scotland, Wales and Northern Ireland), Ireland, Spain, Belgium, Italy, Cyprus, Greece, the Czech Republic, the Netherlands, Switzerland, Poland, Portugal, Hungary and Austria. The chain’s largest hotel concentration is in Germany, where the chain has 68 hotels, and the United Kingdom (including Ireland) is considered to be the second largest chain of hotels in Europe, with the chain having 52 hotels.