Core Viewpoint - Ellomay Capital Ltd. has successfully acquired a 15% stake in Dorad Energy Ltd., increasing its total ownership to 33.75% through its subsidiary, Ellomay Luzon Energy [1][2]. Group 1: Acquisition Details - The acquisition was executed by exercising the right of first refusal related to a sale by Zorlu Enerji Elektrik Üretim A.S., a former shareholder of Dorad [2]. - Ellomay Luzon Energy and Edelcom Ltd. each agreed to purchase 7.5% of Dorad's shares, but Edelcom's agreement was terminated due to unmet conditions, allowing Ellomay Luzon Energy to acquire the full 15% [2]. Group 2: Financial Aspects - The total consideration for the shares was approximately NIS 424 million (around €108 million), funded through a Loan Agreement with three tranches: - First Loan: NIS 175 million (approximately €45 million) with variable interest based on the Israeli Prime Rate [3]. - Second Loan: NIS 175 million (approximately €45 million) with a fixed interest rate between 5% and 6% [3]. - Third Loan: NIS 70 million (approximately €18 million) with variable interest based on the Israeli Prime Rate [3]. Group 3: Loan Agreement Terms - The repayment structure for the loans includes: - First Loan: Four semi-annual payments starting December 31, 2031 [4]. - Second Loan: Sixteen semi-annual payments starting December 31, 2025 [4]. - Third Loan: One payment due on December 31, 2025, with a possible extension until December 31, 2026 [4]. - The Loan Agreement includes a first ranking fixed pledge on the rights related to an account with the lender, where all amounts due from Dorad will be deposited [5]. Group 4: Legal Proceedings - Edelcom filed a request for injunctions to prevent the sale of shares to any third party other than itself, but the court rejected the request for ex parte relief [7]. - A hearing regarding the matter is scheduled for August 6, 2025, with updates required from Edelcom by July 22, 2025 [7]. Group 5: Company Overview - Ellomay Capital Ltd. is focused on renewable energy and power sectors in Europe, the USA, and Israel, with shares listed on NYSE American and the Tel Aviv Stock Exchange [8]. - The company has made significant investments in renewable energy projects across various countries, including Israel, Italy, Spain, the Netherlands, and Texas, USA [9].

Dongfang Electric (1072 HK/600875 CH) H/A: Hold/Hold: Overheating on nuclear China We hosted a non-deal roadshow (NDR) zoom meeting with Dongfang Electric on 18 June 2025, to discuss investor questions about energy equipment prospects. DFE-H outperformed -A significantly: Dongfang Electric-H (DFE-H) has rallied 50% YTD, vs 6% for A shares. With this, the H/A discount of the company has hit a 10-year low of 26%. Apart from the better market and inflows overall YTD (HSI: +18%, CSI300: -2%), we believe H-share ...