Zorlu Enerji, a leading energy company based in Türkiye, is set to divest its entire 25% stake in Israel-based energy firm Dorad Energy Ltd. Upon completion of the transaction, Zorlu Enerji’s partnership in Dorad will officially come to an end.
In a statement to the Public Disclosure Platform (KAP), Zorlu Enerji Elektrik Uretim A.S. (ZOREN) shared the details of the sale. According to the announcement, 15% of the total 25% stake will be equally transferred to Dorad’s existing shareholders, Edelcom and Ellomay Luzon. Share purchase agreements have already been signed for these shares.
Negotiations for the sale of the remaining 10% stake are ongoing with the Phoenix Group. Once finalized, this will mark the complete divestiture of Zorlu Enerji’s holdings in Dorad Energy.
Zorlu Enerji stated that the pre-emptive rights mentioned in its special disclosure dated March 6, 2025, were exercised by Dorad’s existing shareholders Ellomay Luzon Energy Infrastructures Ltd. and Edelcom Ltd., in proportion to their current shares. As a result, agreements were signed to transfer the 15% stake subject to pre-emptive rights equally to Edelcom and Ellomay Luzon.
The remaining 10%, not subject to pre-emptive rights, is in the process of being sold to the Phoenix Group under the same terms and conditions as the agreements signed with Edeltech, Ellomay Luzon, and the Phoenix Group.
Following approvals from Dorad’s Board of Directors, the completion of regulatory permissions, and fulfillment of contractual conditions—including price adjustments—the share transfers will be finalized, leaving Zorlu Enerji with no remaining ownership in Dorad’s capital.
SourcE: CNBC-e/ Prepared: İlayda Gök