Ellomay Capital to Sell Controlling Stake to Nofar Energy in $310 Million Deal
Tel Aviv, Tuesday, 16 December 2025.
Ellomay Capital executes a definitive agreement to sell its controlling stake to Nofar Energy at a $310.4 million valuation, triggering a 10% stock surge while ensuring leadership continuity.
Ellomay Capital to Sell Controlling Stake to Nofar Energy in $310 Million Deal
On Tuesday, December 16, 2025, a significant consolidation in the renewable energy sector was formalized as Ellomay Capital Ltd. (NYSE: ELLO) announced the execution of a definitive agreement to transfer its controlling stake to O.Y. Nofar Energy Ltd. (TASE: NOFR) [1]. The transaction involves the sale of approximately 45.9% of the company’s holdings by its current major shareholders: S. Nechama Investments (2008) Ltd., Kanir Joint Investments (2005) LP, and Anat Raphael [1]. This strategic move is poised to reshape the ownership structure of the Israel-based power generator while maintaining its operational backbone.
Market Reaction and Valuation
The markets responded swiftly to the announcement, reflecting investor optimism regarding the acquisition. By late afternoon on December 16, Ellomay’s stock on the NYSE had climbed to $23.87, representing a significant increase of 10% from the previous close of $21.70 on December 15 [2]. The deal is structured based on a company valuation of NIS 1 billion, which translates to approximately $310.4 million, subject to customary adjustments [1]. This valuation underscores the perceived intrinsic value of Ellomay’s diverse portfolio, which includes renewable energy projects across Europe, Israel, and the United States [1][2].
Strategic Synergies and Asset Portfolio
Nofar Energy, a global renewable energy firm listed on the Tel Aviv Stock Exchange, views this acquisition as a critical milestone in its expansion strategy [1]. Ofer Yannay, CEO of Nofar, highlighted the acquisition as a means to implement their growth strategy, specifically citing the value of Ellomay’s team [1]. Ellomay’s portfolio is robust, featuring a 16.875% indirect interest in Dorad Energy Ltd., which operates an 850 MW power plant, alongside significant solar assets [1][2]. Specifically, the company holds solar projects in the Dallas Metropolitan area with approximately 38 MW already connected to the grid and another 11 MW awaiting connection, as well as photovoltaic plants in Spain and Israel [1][2].
Leadership Continuity and Regulatory Timeline
Despite the change in controlling shareholders, Ellomay has prioritized stability in its management structure. Ran Fridrich is set to continue in his role as Chief Executive Officer and Board Member, a move intended to ensure an orderly transition and secure future growth [1]. Fridrich noted that the company will continue its ordinary course of business while retaining its management backbone [1]. The consummation of this sale is currently contingent upon regulatory approvals. The agreement stipulates a deadline for these approvals of no later than 90 days from the execution date, with provisions for possible extensions totaling up to an additional 90 days [1].