Zorlu Enerji Elektrik Uretim A.S. has announced via the Public Disclosure Platform (KAP) that it will no longer hold any stake in Israeli-based Dorad Energy Ltd. once all ongoing share transfers are completed. The disclosure is part of the company’s divestment strategy regarding its operations in Israel.
Earlier in March, the Türkiye-based energy firm had declared its decision to sell its entire stake in Dorad Energy, where it held a direct partnership. According to a previous KAP filing, Zorlu Enerji signed a share purchase agreement with the Phoenix Group to sell its 25% stake in the company.
“Upon Completion, We Will Hold No Shares in Dorad’s Capital”
In the latest statement sent to KAP, Zorlu Enerji confirmed the use of preemptive rights by existing shareholders of Dorad:
“As part of the transaction to sell all of our shares in Dorad Energy Ltd. (‘Dorad’), which correspond to 25% of its capital, the preemptive rights disclosed in our material event statement dated 06.03.2025 have been exercised by Ellomay Luzon Energy Infrastructures Ltd. (‘Ellomay Luzon’) and Edelcom Ltd. (‘Edelcom’), based on their respective shareholdings in Dorad.
Accordingly, share purchase agreements have been signed for the equal transfer of our 15% stake, subject to preemptive rights, to Edelcom and Ellomay Luzon. The sale of the remaining 10%, which is not subject to preemptive rights, to the Phoenix Group is also ongoing.
The share purchase agreements signed with Edeltech, Ellomay Luzon, and the Phoenix Group include identical terms and conditions. Once all transfers are completed—pending Dorad Board approval, regulatory clearances, and contractual obligations, including price adjustments—we will no longer hold any shares in Dorad’s capital.”
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Source: Patronlar Dünyası/ Prepared by: İlayda Gök