O.Y. Nofar Energy Ltd. Acquires Controlling Stake in Ellomay Capital Ltd.

O.Y. Nofar Energy Ltd. (Nofar), along with Yannay Group Ltd. and Ofer Yannay, has acquired a 45.9% stake in Ellomay Capital Ltd. by purchasing 6,318,946 ordinary shares for approximately NIS 458,518,289. The acquisition was funded partly by a bank loan to Nofar and partly by Nofar's working capital. This move is a strategic step for Nofar's growth, aiming to expand its presence in conventional energy and leverage synergies. As part of the agreement, Nofar has secured board representation in Ellomay Capital Ltd. The Reporting Persons intend to continuously assess their investment and may consider further acquisitions or dispositions of shares based on market conditions and the company's performance. They may also engage in discussions with Ellomay's management and board regarding the company's future operations and strategy.