Ellomay Capital's Indirect Ownership Of Dorad To Increase To About 9.2%

(RTTNews) - Ellomay Capital Ltd. (ELLO) announced that it provided a notice of exercise of its option to buy additional 9% of the share capital of U. Dori Energy Infrastructures Ltd., which currently holds 18.75% of Dorad Energy Ltd.

Following the exercise of the Option, the company's holdings in Dori Energy will increase from 40% to 49% and the company's indirect ownership of Dorad will increase from 7.5% to about 9.2%.

The aggregate amount that will be paid by the company in connection with the exercise of the Option is expected to be approximately NIS 28.1 million (about $7.1 million) and includes the exercise price and the amount required in order to realign the shareholders loans provided to Dori Energy by its shareholders with the new ownership structure.

The Option is one of two options held by the company in connection with its holdings in Dori Energy and was due to expire on May 19, 2015. The second option covers an additional 1% of Dori Energy's outstanding shares and is in effect until May 19, 2016.

The closing of the exercise of the Option is expected to take place during the upcoming weeks.