Israeli businessman Aaron Frenkel is taking control of Israel income-producing property and renewable energy company Alony Hetz (TASE: ALHE). Yesterday, he purchased options from a foreign bank, which provides him with the opportunity to buy another 2% of the company’s shares at a price close to the share price on the Tel Aviv Stock Exchange (TASE).
Frenkel also has an option to purchase 2.4% of Alony Hetz shares from Phoenix Financial (TASE: PHOE), which remains valid until the winter. He currently owns 12.95% of Alony Hetz shares, worth about NIS 1 billion. After exercising the options, he will hold about 18% of the company’s shares making him its largest shareholder, ahead of CEO Nathan Hetz, who has a 12.49% stake.
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As far as is known, Frenkel has no plans to remove Hetz from his position, and in fact, in recent months, has been expressing great satisfaction with the way Hetz has led the company. From Frenkel’s perspective, the aim is to expand his investments in the income-producing real estate sector, which he believes is on the path to recovery in the coming years. Frankel also has a lot of “surplus cash” after realizing some of his holdings in the Tamar reservoir, along with other exits. In addition, Alony Hetz’s latest financial statements showed a renewed recovery in the income-producing real estate sector, which strengthens his investment thesis.
Alony Hetz holds income-producing real estate in Israel through control of Amot Investments (TASE: AMOT), and abroad – mainly in the US and the UK. It is also the controlling shareholder of renewable energy company Energix (TASE: ENGR).
Published by Globes, Israel business news – en.globes.co.il – on August 21, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
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