Shelley Appleberg, themarker.com

Jacob Luxembourg (Loxi), the controlling shareholder of Lapidot Capital , Continues to raise funds in the market for the acquisition of Africa Investments(The body that remains of the Africa Israel Group - of Lev Leviev) .Luxembourg is expected to pay NIS 861.5 million to controlling holdings in Africa Investments, at the time of the settlement.

Lapidot announced on Wednesday that it has raised NIS 48.4 million through rights issue. At the fundraising, Lapidot offered everyone who owns 14 shares of the company, to purchase a share package, and options to be provided without consideration - for a total value of NIS 16.5 per unit. Luxi, which owns 85% of Lapidot's shares, pledged to raise NIS 43 million in shares prior to being drafted.

Infrastructure Tenders

The funding raised today is to help Luxi take control of infrastructure and contracting company, Danya Cebus (100%) - one of the largest and most prominent real estate companies. In a number of lands in Savyon, for these properties, Altshuler Shaham And Lapidot deposited a cash deposit of NIS 81 million.

Moti Ben Moshe, owner of Alon Blue Square Group Photo: Moti Millrod

Through Danya Cebus, Luxembourg is hoping to win infrastructure tenders - which are expected to roll billions of shekels in the coming years. Luxi will now have to focus on raising NIS 200 million in debt to Series A of the company, a debt secured by a bond on Sunny Communications shares.

This will be the first time Luxi will place a debt on the Lapidot Group - which ended the third quarter of 2019 with a profit of NIS 15.8 million, compared with a profit of NIS 45.8 million in the corresponding quarter in 2018.

At the same time as Lucy's capital raising, Moti Ben Moshe - the owner of Alon Blue Square Group , Demands compensation of NIS 418 million from African Investment Trustees, in a letter sent to them yesterday, claiming that they had become unjustly enriched on the day they canceled the Africa Investment Agreement with him.