Maman Acquires Full Ownership of Laufer Aviation in 22 Million NIS Deal
Maman Cargo Terminals acquired the remaining minority shares in Laufer Aviation-GHI for up to 22 million NIS, consolidating full ownership of the aviation services provider.
Maman Cargo Terminals and Handling completed a major move to expand its aviation services portfolio by acquiring the remaining minority shares in Laufer Aviation-GHI. Prior to the deal, Maman held 58.52% of Laufer, while the remaining 41.48% was held by Laufer Holdings.
The agreement was signed and finalized on September 24. According to the company's report, Maman will pay a base consideration of approximately 18 million NIS: around 16 million NIS was paid upon signing, with the remainder scheduled for payment by January 1, 2028. Additionally, contingent payments tied to specific future events were set at a cumulative amount not exceeding approximately 4 million NIS, subject to adjustments. Consequently, the total consideration for the shares could reach roughly 22 million NIS.
From a business perspective, the transaction ends the joint ownership structure in Laufer and transfers the minority partner's economic stake entirely to Maman. However, this does not represent the entry of a new entity into Maman's financial statements, as Laufer was already fully consolidated. Therefore, the primary change lies in the ownership of future earnings and the governance structure.
The report also details separate financial components, including the settlement of a Laufer debt to the minority shareholder and the distribution of a 7.8 million NIS dividend to shareholders as they stood prior to the deal's completion. Maman stated it will finance the acquisition from internal resources. Simultaneously, a consulting and non-compete agreement was signed between Laufer and a party related to the minority partner, which Maman described as immaterial to the company.
