Tzachi Abu and his father Yechiel Abu buy Arena Group for $ 15 million (about NIS 50 million). The two bought Yitzhak Tshuva’s land about a year ago from Yitzhak Tshuva’s land, and now they are acquiring control of Arena Group from Marcus Weber at the same time as repaying a loan to Marcus Weber for $ 114 million. The total investment amounts to approximately $ 129-130 million.
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Arena is engaged in commercial income-producing real estate and malls in Israel and abroad. A year ago, Tzachi Nachmias offered to acquire control for a total consideration (including a loan payment) of $ 135 million, but due to the flooding in Nahariya and the Nahariya mall belonging to the arena, the deal was canceled. The company’s main asset is Star Center in Ashdod
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