BRIEF-Businessman Tzachi Abu Moves To Acquire Control Of Turbogen-July 2024-www.financetom.com

BRIEF-Businessman Tzachi Abu Moves To Acquire Control Of Turbogen

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BRIEF-Businessman Tzachi Abu Moves To Acquire Control Of Turbogen

May 26, 2026 4:37 AM

May 26 (Reuters) - Turbogen Ltd:

* BUSINESSMAN TZACHI ABU MOVES TO ACQUIRE CONTROL OF

TURBOGEN

* TURBOGEN LTD - IN NEGOTIATIONS TO BUY 50% STAKE IN

ELBATECH

* TURBOGEN LTD - DEAL VALUES ELBATECH AT ILS 1.2 BILLION;

CONSIDERATION VIA SHARE ALLOTMENT

* TURBOGEN LTD - TZACHI ABU TO HOLD 55% STAKE IN TURBOGEN

AND BECOME CONTROLLING SHAREHOLDER

* TURBOGEN LTD - TO RESTRUCTURE INTO TWO DIVISIONS FOLLOWING

DEAL COMPLETION

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