Idan Ofer News
10 articles
Idan Ofer makes another gas bet with move for substantial stake in Awilco LNG TradeWinds
Israeli billionaire shipowner Idan Ofer has acquired a 5.2% stake in Awilco LNG through his company EPS Ventures. The investment is worth $3.9 million and is seen as a growth-positive move for Awilco LNG.
Investment
As Idan Ofer builds stake in tanker owner Ardmore, intentions remain unclear TradeWinds
Shipping billionaire Idan Ofer has increased his ownership in Ardmore Shipping, an Ireland-based product tanker owner. In a US Securities and Exchange Commission filing, Ofer reveals he now controls 10.55% of the company.
Investment
Idan Ofer reveals major stake in Ardmore Shipping TradeWinds
Companies controlled by Idan Ofer have acquired a 9.53% holding in Ardmore Shipping. The Israeli billionaire now holds more than 3.27m shares in the Irish product tanker owner. The filing does not disclose Ofers intentions in the stakeholding.
Investment
Idan Ofer splashes out more than $420m on feeder container ships at Mawei TradeWinds
Eastern Pacific Shipping, controlled by Idan Ofer, has ordered up to 10 feeder container ship newbuildings from Fujian Mawei Shipbuilding in China. The order includes six firm 2,900-teu vessels with options for four additional ships, bringing the total value of the order to over $400m. This will increase Eastern Pacific Shippings boxship orderbook to 35 vessels. The 2,900-teu newbuildings will be the smallest container ships the company has ordered in recent years.
Acquisition
Idan Ofer and Tor Olav Trøim unveil new LNG carrier player - Splash247
Israeli billionaire Idan Ofer and Norwegian tycoon Tor Olav Trøim have formed a new LNG shipping company called CoolCo. Eastern Pacific Shipping (EPS), controlled by Idan Ofer, will invest $150m in the new company. CoolCo plans to acquire Golar LNGs eight TFDE LNG carriers and list on Euronext Growth in Oslo in Q1 2022. The anticipated IPO proceeds, along with debt refinancing, will be used to acquire the vessels, secure financing, and provide working capital for further growth. Golar LNG will retain around one-third of the new entity, while EPS will become the largest shareholder and chair the board of directors.
InvestmentAcquisitionPublic Trading
Idan Ofer and John Fredriksen invest in Edda Wind IPO
Shipowners John Fredriksen and Idan Ofer are investing NOK200m in Edda Wind as cornerstone investors in its IPO. Edda Wind, a pure play offshore wind services company, is aiming to raise NOK875m through an IPO on the Oslo Stock Exchange. The company has secured NOK465m in total from three cornerstone investors, including Fredriksen, Ofer, and Nordea. Geveran Trading and Xclat, subsidiaries of Quantum Pacific Shipping, will join the board of Edda Wind. The company operates offshore wind SOVs and has six dedicated offshore wind vessels under construction. The investment and IPO will provide Edda Wind with a solid foundation for future growth in the offshore wind market.
InvestmentPublic Trading
Israeli Billionaire Idan Ofer Acquires Portuguese Second League Soccer Club
Israeli businessman Idan Ofer has acquired a 51% stake in Portuguese soccer club Futebol Clube de Famalicão. Ofer also owns a 32% stake in Spanish soccer team Club Atlético de Madrid. He intends to purchase players from former Portuguese protectorates, train them at the team’s youth leagues, and then sell them to big European teams. The acquisition was made for several million euros, with an option to acquire an additional 34% stake at the same valuation. Ofers strategy is to take advantage of the opportunity to transfer players from former Portuguese protectorates to Portuguese teams.
AcquisitionPartners
Israel Corp.'s Idan Ofer Reiterates Support for Chinese Car Maker Qoros
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Israeli-Born Billionaire Idan Ofer Donates £25 Million to London Business School
Israeli-born billionaire Idan Ofer has donated £25 million to the London Business School (LBS), the largest single donation ever made to a UK business school. The donation will be used to fund the redevelopment of the Old Marylebone Town Hall, which was acquired in 2012 to become a campus building. The construction work at the site is expected to begin next month and be completed by 2016. The building will increase teaching space at the LBS by 70%. Ofer, who graduated from the LBS with an MBA in the 1980s, has a fortune estimated at over £4 billion.
Investment
https://www.independent.co.uk/news/world/middle-east/israel-s-wealthiest-man-idan-ofer-set-to-move-to-london-amid-tax-row-8566269.html
Israels wealthiest man, Idan Ofer, is moving to London due to plans to increase taxes on the rich in Israel. Ofer, the head of Quantum Pacific Group, is worth $6.5 billion and will benefit from lower charges on his wealth in London. The move may reignite a debate over the recent reduction in the top rate of income tax. Ofers decision is influenced by family reasons and Israels changing tax regime. The Israeli economy has shown signs of slowing down, leading to street protests demanding a reduction in the cost of living. The new government is expected to announce tax hikes soon. Ofers departure raises concerns that tax hikes will drive away the wealthy and their money.
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