Lahav LR received an option to purchase 35% of ECB

Lahav LR received an option to purchase 35% of ECB
Lahav LR received an option to purchase 35% of ECB

Lahav L.R., controlled by Avi Levy, received an option to purchase 35.2% of ECB, a public company that will merge into it the segment activity for wireless charging of electric vehicles. The option given to Lahav LR is to purchase approximately 8 million shares at a price of NIS 1.5 per share and 5.2 million shares at a price of NIS 2.5 per share, and a total of approximately 13.2 million shares.

The share price on the eve of the signing of the agreement was NIS 2.3. The first dose of the options was given to Lahav for about six months or for three months from the end of the merger between Magment and ECB, while the second dose can be exercised starting 120 days after the completion of the merger or about 210 days from the date of signing the agreement.

Magnet was founded in Germany in 2015 by Mauricio Asguera and Dr. Ralph Luca, two renowned experts in magnetics and materials. The company develops wireless charging solutions, based on magnetic concrete components, designed for charging electric vehicles. These solutions go hand in hand with the global trend of switching to electric transportation. The segment has a number of registered patents, the main one of which is in the field of concrete components with magnetic properties.

About a month ago, Lahav L.R. and Uri Mansour completed the purchase of 70% of Delek Israel for about NIS 525 million. The acquisition was made at a value similar to Delek Israel’s equity. Lahav L.R., Mansour and the Delek Group intend to act to split Delek Israel into a real estate company and an operating company in accordance with income tax regulations so that the two companies will be sisters and will be held by the same owners. Exploit existing building rights and create new rights through fuel returns.

Lahav El R. intends to examine during the option period the field and the integration of the wireless charging issue in its energy activity.

In March of this year, Lahav returned to the field of green energy when it acquired 6 private Israeli companies engaged in the field of renewable energy that hold rights to 89 small photovoltaic production facilities and one medium-sized facility with a cumulative capacity of 4.8 megawatts for NIS 54 million.

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