Infrastructure investment fund Keystone Infra (TASE: KSTN), headed by Navot Bar, has signaled to Shikun & Binui (TASE: SKBN) its determination to acquire the latter’s listed subsidiary Shikun & Binui Energy (TASE: SBEN). Keystone Infra subsidiary Keystone Power has obtained a term sheet from a financial institution for provision of up to NIS 2 billion credit.
At present, Generation Capital (TASE: GNRS) has a no-shop agreement with Shikun & Binui as it examines the possibility of acquiring Shikun & Binui Energy. It is believed that this agreement will expire within the next few days, after which Shikun & Binui will have to decide between the alternatives.
Keystone Power will use the credit line it has obtained if it completes a deal to buy Shikun & Binui Energy. Such an acquisition will make Keystone Power one of the largest private energy platforms in Israel.
Keystone Power already holds the Ramat Hovav, Hagit East and IPM power plants and it is a partner in the Sorek plant under construction. Once the Sorek power plant is completed, the platform will hold aggregate production capacity of over 3,200 megawatts, representing 14% of the total capacity for producing electricity using natural gas in Israel.
Published by Globes, Israel business news - en.globes.co.il - on July 16, 2026.
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