Company profile:

Lahav L.R., controlled by Avi Levy, is engaged in three areas of business: income-producing real estate, renewable energy in Israel, and the Delek Israel business.

The company’s main income-producing real estate business is in Germany, where it has been operating since 2012. The company holds a portfolio of some 80 neighborhood commercial centers and a hotel. The company also holds interests in the  City Tower in Ramat Gan, Israel, an income-producing property.

In 2012, the company began operating in green energy, and now specializes in the development, construction, acquisition, and holding of photovoltaic power generation systems in Israel. Such operations were later merged into the public company Solegreen, and Lahav’s holdings were sold in 2019.

In May 2020, the company returned to the green energy sector and acquired a portfolio of some 89 rooftop solar installations with a total capacity of ~4.8 MW.

In April 2021, the company reported an investment of ~ILS 25 million by Noked Capital, which was invested by the company in the subsidiary, Lahav Green Energy. The investment was made according to a valuation of ~ILS 125 million (post-money), subject to the conditions and adjustments stipulated, with Noked Capital holding approx. 20% of the shares in Lahav Green Energy just before the IPO. The transaction includes a mechanism whereby Noked Capital will receive a ~ILS 25 million non-marketable option which, just before the Lahav Green Energy IPO, will be converted into 20% of the shares of the company according to a post-money valuation of ~ILS 125 million.

The company is working to develop the operations it has acquired and to promote additional large-scale projects in the renewable energy industry, through the acquisition of income-producing projects and land development.

In October 2020, Lahav L.R. (35%) and a company owned by Uri Mantzur (35%) acquired 70% of the share capital of Delek Israel for approx. ILS 525 million. In Q1/2021, Lahav L.R. increased its holdings in Delek Israel to ~40%.

On March 31, 2021, Delek’s operations were split into two companies through a transfer of its real estate property holdings (mainly gas stations) to its sister company, Delek Properties (D.P.) Ltd., with Delek Israel leasing the gas stations from Delek Properties under long-term contracts