Ellomay Capital shareholders sell 45.9% stake to Nofar Energy

Ellomay Capital Ltd. (NYSE American: ELLO) announced that its principal shareholders have sold their combined 45.9% stake in the renewable energy company to O.Y. Nofar Energy Ltd.

The sellers included S. Nechama Investments (2008) Ltd., Kanir Joint Investments (2005) LP and Anat Raphael, who completed the transaction of all their ordinary shares to the Tel Aviv Stock Exchange-listed Nofar Energy.

The ownership change prompted board restructuring at the Israeli renewable energy developer. Board members Anita Leviant and Ehud Gil resigned immediately, while Chairman Ben Sheizaf will step down 30 days after the share sale completion.

The board appointed two new independent non-executive directors to fill the vacancies: Odelya Ohayon and Gilad Mamlok. Mamlok will serve on the audit and compensation committees, replacing Leviant.

Ohayon brings over 15 years of executive experience, including roles as VP of Marketing at Samsung Electronics Israel and previous positions at Solgar & Supherb and Partner Communications. She holds business degrees from Ben-Gurion University and the Academic Studies Center.

Mamlok currently serves as Chief Financial Officer of Protalix BioTherapeutics Inc. (NYSE American: PLX) and has three decades of experience in healthcare and technology companies. His background includes CFO roles at TytoCare Ltd., Sol-Gel Technologies Ltd., and Given Imaging. He holds economics degrees from Tel Aviv University.

Ellomay operates renewable energy projects across Europe, Israel and the United States. The company's portfolio includes approximately 335.9 MW of operating solar power plants in Spain, 51% ownership of about 38 MW of solar plants in Italy, and a 16.875% indirect interest in Dorad Energy Ltd., which operates an 850 MW power plant in Israel.

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