Allied purchases Shapir’s natural gas distribution operations for NIS230m
Allied Infrastructures has signed a binding agreement to acquire Shapir Engineering’s full holdings in Super NG and Super NG Hadera and the Valleys for a base consideration of NIS 230 million. The two companies hold natural gas distribution licenses in central Israel and the Hadera and Valleys regions, serving industrial and commercial customers.
The consideration is subject to adjustments for the companies’ financial debt and cash at closing, while Shapir may also receive additional contingent payments tied to future arrangements with the state, including distribution tariffs, license extensions, and the residual value of the distribution networks. Allied has also received a five-year option to acquire Shapir’s entitlement to certain residual-value payments for NIS 130 million plus 9% annual interest.
Completion remains subject to customary conditions, including the required regulatory approvals. Shapir estimates that the transaction could generate a pre-tax profit of between NIS 50 million and NIS 100 million.
Erdinast, Ben Nathan, Toledano advised Allied Infrastructures on the transaction, with a team led by Uri Mandel, Dan Sela, and Oren Tal, together with Gwen Carman, Eyal Birnberg, Tal Alon, Michal Rothschild, Shelly Wexelman, and Lior Etgar.
