Nathan Hetz, CEO of income-producing property and renewable energy company Alony Hetz (TASE: ALHE) is no longer the biggest shareholder in the company. On Thursday Israeli businessman Aaron Frenkel bought shares in the company for NIS 60 million, giving him a 13% stake, and leapfrogging Hetz who owns a 12.5% stake.
Frenkel, who bought a 10% stake in Alony Hetz last October for NIS 800 million, bought an additional 1.9 million shares last week at NIS 31.9 per share for a total investment of NIS 60 million. The shares Frenkel bought in October are currently worth NIS 832 million and his overall stake is worth NIS 892 million, while Hetz owns shares worth NIS 860 million.
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Frenkel has told “Globes” several times that he has no plans to gain control of Alony Hetz and has complimented the way Hetz manages the company. He adds, “Of course we come to add and innovate and bring different ideas, we sometimes also offer ideas outside the box, for example, how to promote green energy issues in Israel and around the world. There are many things that I think can be improved, and we will improve them together. Nathan is managing it and I am always happy to hear about how things are moving forward.”
Hetz himself told “Globes” in October that Frenkel was welcome at the company.
Published by Globes, Israel business news – en.globes.co.il – on February 4, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
