Deals
Ormat Technologies to Acquire Parent Company in All-Stock Merger
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Ormat Technologies Inc., a U.S. developer of geothermal power, is acquiring its Tel Aviv-based parent company in an all-stock merger.
Existing shareholders of Reno, Nevada-based Ormat Technologies will retain about 38 percent of the company’s shares, and Ormat Industries Ltd. holders will own the remaining 62 percent, the company said today in a statement. Ormat said last month it was considering a restructuring where the parent company would de-list in Israel.