Aaron Frenkel Buys 11% of the Tamar gas reservoir for USD 520 million
Categories: Projects & Energy
Businessman, Aaron Frenkel has purchased 11% of the Tamar gas reservoir, for approximately USD 520 million dollars, from Mubadala Petroleum, the government company of Abu Dhabi.
Mubadalah Petroleum, owned by the Abu Dhabi government, had acquired a 22% stake in Israel’s offshore Tamar gas field through two special purpose companies – Tamar Investment 1 and Tamar Investment 2, while granting Frenkel the option of buying the 11% stake by February 2023.
Lipa Meir attorneys Eitan Shmueli, partner and head of the Capital Market and Securities practice, together with fellow partner Gregory Irgo, supervised the transaction.
Read more in Globes.
