Property and Building Corp. Ltd. (PBC) has acquired Aaron Frenkel’s 37.22% stake in Gav-Yam, for NIS 3.1 billion
Property and Building Corp. Ltd. (PBC) has acquired Aaron Frenkel’s 37.22% stake in Gav-Yam, for NIS 3.1 billion.
Gross has represented PBC, including in the closing of a finance agreement with Mizrahi-Tefahot Bank for approx. NIS 1 billion.
At the end of the process, which lasted six months, Frenkel sold its holdings in Gav-Yam to PBC, raising its holdings in Gav-Yam to 87%.
Gav-Yam is one of the largest income-producing real estate companies in Israel, with the majority of its customers being high-tech customers, with an emphasis on large and stable international companies.
Esther Koren, head of the Corporate and M&A department at Gross Law, led the transaction and closing, together with partner Shay Hager and partner Liraz Shaharabani Kosover from the M&A department. Agmon & Co. Rosenberg Hacohen & Co. represented Mr. Aaron Frenkel in the sale of his shares in Gav-Yam Land Corporation Ltd.
