TEL AVIV, Israel, October 9, 2018 /PRNewswire/ --
ADO Group Ltd. (TASE: ADO) announces that it has been informed
by EPF Acquisition Co 86 S.a.r.l (a legal entity which to the best
of the ADO's knowledge is managed by legal entities related to
Apollo Global Management LLC (Apollo Group) as well as by Lapidoth
Capital Ltd., Lapidoth - Extract of Limited Partnership and Mr.
Jacob Luxenburg (together:
Lapidoth), that on October 8, 2018
EPF and Lapidoth entered into an agreement for the sale of all of
Lapidoth holdings in ADO to EPF at a price of NIS 88.5 per share. According to ADO's
information, the agreement will be completed within five
business days of its signing, and subject to its completion
Lapidoth will cease to be an interested party in ADO.
Subject to completion of the said agreement, entities of the
Apollo Group will hold approximately 21.96% of the ADO's issued and
paid up share capital and voting rights therein.
About ADO Group Ltd:
ADO Group Ltd is the largest shareholder of ADO Properties
S.A , registered with the Israeli Security Authority under
520039066 and publicly listed on the Tel Aviv Stock Exchange, and
has its registered office at 1A Hayarden Street, Airport City, Ben
Gurion Airport, Tel Aviv, Israel.
ADO Group Ltd is a public Israeli company whose interest in ADO
Properties S.A is 38.24%.
Contact:
Eyal Merdler, CFO
ADO Group Ltd
Tel.: +972-3-5416301
eyal@ado.co.il
SOURCE ADO Group Ltd