www.bethelfinance.com
Bethel Finance news:
Electra Ltd. (TASE: ELTR) has teamed up with the Minrav Holdings Ltd. (TASE: MNRV)-Bynet Group Ltd. group for the second stage of the NIS 10 billion IDF training base city tender. Electra subsidiary Electra Power Ltd. will acquire 25% of the Minrav-Rad joint venture for the project, Mabat Negev Ltd., one of the two finalists in the tender, and will strengthen the company's bid in it.
The tender winner will build 250,000 square meters of building at the training base on a 2,600-dunam 450-acre site south of Beersheva.
Electra has guaranteed all of Electra Power's commitments to provide 27% of the project's financing. IDF training base city will be built as a BOT (build, operate, transfer) project, with construction taking four years, and a 25-year operating franchise period.
Under the agreement, Electra subsidiary Electra Construction Ltd. will be awarded 30% of the subcontracting rights, which means that Electra will also benefit from the construction. Minrav unit Minrav Engineering and Construction Ltd. will own the other 51% of the construction rights, and the Zisapel brothers' Bynet will own 19%. Another subsidiary, Electra FM Building Holdings Ltd., will own 25% of the training base's operational contractor.
Electra CEO Itamar Deutscher said, "The IDF training base city project fits Electra's know-how, experience, and strategy. We're joining the consortium as partners for the construction, financing, and operation of the project, in line with the company's experience in complex large-scale projects and Electra FM's experience in the management of IDF bases.
Electra's share price rose 0.9% by mid-afternoon to NIS 308.30, giving a market cap of NIS 1.1 billion, and Minrav's share price was unchanged at NIS 243, giving a a market cap of NIS 243 million.
No comments:
Post a Comment