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An announcement from Ellomay ( (IL:ELLO) ) is now available.
Ellomay Capital Ltd. announced an update regarding its exercise of a right of first refusal for 7.5% of the shares in Dorad Energy Ltd. The deadline for the purchase has been extended to July 22, 2025, due to pending decisions from the Israeli Competition Authority and the Israeli Electricity Authority. Ellomay Luzon Energy, a subsidiary of Ellomay Capital, is seeking approval to purchase the full 15% of Dorad’s shares if another shareholder, Edelcom Ltd., does not complete its purchase. The acquisition’s completion is contingent on the sale of 10% of Dorad’s shares to The Phoenix Insurance Company Ltd. and approval from Dorad’s board, which are beyond Ellomay’s control.
More about Ellomay
Ellomay Capital Ltd. operates in the energy sector, focusing on renewable energy projects. The company is involved in the development, ownership, and operation of power plants, with a market focus on regions including Israel, Spain, Italy, and the United States.
Average Trading Volume: 4,588
Current Market Cap: ILs792.4M
For a thorough assessment of ELLO stock, go to TipRanks’ Stock Analysis page.