Generation Capital buys control of Solegreen

Generation Capital, founded by Yossi Singer and Erez Balasha, has bought control of biotechnology company Solegreen (TASE: SLGN) for NIS 44 million.

By a small margin, Generation Capital outbid Lahav LR Real Estate, which bid NIS 41 million. The two firms jointly held a 70% controlling stake in Solegreen, in equal shares. Generation Capital will now own 70% of SolGreen outright.

SolGreen constructs, operates and maintains photo-voltaic solar energy projects. In the first quarter of this year, it had revenue of NIS 2.5 million, 4% more than in the first quarter of 2018, and posted a loss of NIS 633 thousand, similar to its loss in the corresponding quarter.

Published by Globes, Israel business news – en.globes.co.il – on August 1, 2019

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