Ellomay ( (IL:ELLO) ) has issued an announcement.
Ellomay Capital Ltd. announced the approval of its subsidiary, Ellomay Luzon Energy, to exercise its right of first refusal for 15% of Dorad Energy Ltd.’s shares, previously held by Zorlu Enerji Elektrik Üretim A.S. This decision, made on March 30, 2025, allows Ellomay to potentially increase its stake in Dorad, contingent upon the fulfillment of several closing conditions. The transaction involves a purchase price of approximately NIS 424.4 million and requires a guarantee deposit, for which Ellomay has secured a commercial paper agreement to facilitate financing. The outcome of this acquisition could significantly impact Ellomay’s operations and market position, although uncertainties remain regarding the participation of other Dorad shareholders and regulatory approvals.
More about Ellomay
Ellomay Capital Ltd. operates in the renewable energy sector, focusing on the development, construction, and operation of power plants. The company is involved in various energy projects across Israel, Spain, Italy, and the United States, with a significant interest in Dorad Energy Ltd., a major player in the Israeli energy market.
YTD Price Performance: -7.65%
Average Trading Volume: 3,850
Technical Sentiment Signal: Buy
Current Market Cap: $194M
Find detailed analytics on ELLO stock on TipRanks’ Stock Analysis page.