Elron

Elron Ventures' controlling shareholder, Arieli Group, has reduced its debt to Phoenix Investment House and extended its repayment deadline to October 2026, easing fears of a forced share sale.

The Arieli Group has reached a framework agreement with Phoenix Investment House to settle debts, ensuring it retains control of Elron. The lender had previously demanded repayment due to a decline in the value of the pledged shares.

The Arieli Group, the controlling shareholder of Elron, has breached loan covenants related to its acquisition of the company from Phoenix Investment House. Consequently, Phoenix has begun seeking buyers for the pledged shares.