Keystone Fund acquires control of the IPM power plant in Beer Tuvia for NIS 600 million

Huge deal in the field of infrastructure: The Keystone Fund acquires control of the IPM power plant in Beer Tuvia from Keren Noy, Leumi and the Phoenix - for NIS 600 million.
Roni Biram's Reit Fund, Gil Deutsch and CEO Navot Bar, signed a binding agreement over the weekend to purchase up to 34% (in a chain) of the power plant's shares. The complex agreement includes purchases of shares and loans in several entities. Moti Ben Moshe currently holds In about 28% of the shares.
The total consideration will be NIS 600 million, of which NIS 300 million will be divided equally between Keren Noy and Leumi and NIS 300 million for Phoenix in exchange for private shares, a convertible loan and shares of 10% of the public GP Global.
According to estimates, the deal reflects the station's value of about NIS 1.5 billion to shareholders.
Noy, Leumi and Phoenix entered the company's investment in 2018. It is estimated that the entities' investment more than doubled in a period of about three and a half years.