Aharon Frenkel Boosts Alony Hetz Stake to 20% with 120 Million Share Buy

Israeli businessman Aharon Frenkel has expanded his stake in real estate firm Alony Hetz, acquiring an additional 2% of the company's shares for approximately 120 million shekels. Following this latest stock exchange transaction, Frenkel's total holding in the income-producing real estate company has risen to nearly 20%.

As part of the move, Frenkel purchased 4.1 million shares for a total consideration of about 120.5 million shekels. This latest acquisition continues a two-year trend of consistent investment by Frenkel, who initially entered the company in October 2024 by acquiring a 10% stake for roughly 685 million shekels.

The share purchase comes on the heels of a 6% decline in Alony Hetz shares over the past week, driven by broader market downturns and weakness in the real estate sector. Since the beginning of the year, the company's stock has dropped by approximately 26%, bringing its current market capitalization to about 6.4 billion shekels.

Alongside Frenkel, the company's largest shareholder, prominent backing comes from controlling shareholder Natan Hetz, who has led the group for over 30 years and holds a 12.2% stake. While Frenkel has previously indicated that he has no intention of launching a control battle or unseating Natan Hetz, his business history includes high-profile control struggles in companies such as Gav-Yam, Tamar Petroleum, and Aeronautics.

Alony Hetz operates as a holding company controlling income-producing real estate firm Amot Investments, renewable energy company Energix in the US and Israel, and several international real estate platforms including Carrier Global and AH Boston in the United States, alongside British firm Brockton Everlast.