ADO Group Provides Information Regarding Apollo Group & Lapidoth Announcement

TEL AVIV, Israel, October 9, 2018 /PRNewswire/ --

ADO Group Ltd. (TASE: ADO) announces that it has been informed by EPF Acquisition Co 86 S.a.r.l (a legal entity which to the best of the ADO's knowledge is managed by legal entities related to Apollo Global Management LLC (Apollo Group) as well as by Lapidoth Capital Ltd., Lapidoth - Extract of Limited Partnership and Mr. Jacob Luxenburg (together: Lapidoth), that on October 8, 2018 EPF and Lapidoth entered into an agreement for the sale of all of Lapidoth holdings in ADO to EPF at a price of NIS 88.5 per share. According to ADO's information, the agreement will be completed within five business days of its signing, and subject to its completion Lapidoth will cease to be an interested party in ADO.

Subject to completion of the said agreement, entities of the Apollo Group will hold approximately 21.96% of the ADO's issued and paid up share capital and voting rights therein.

About ADO Group Ltd: 

ADO Group Ltd is the largest shareholder of ADO Properties S.A , registered with the Israeli Security Authority under 520039066 and publicly listed on the Tel Aviv Stock Exchange, and has its registered office at 1A Hayarden Street, Airport City, Ben Gurion Airport, Tel Aviv, Israel. ADO Group Ltd is a public Israeli company whose interest in ADO Properties S.A is 38.24%. 

Contact:  

Eyal Merdler, CFO
ADO Group Ltd   
Tel.: +972-3-5416301
[email protected]  

SOURCE ADO Group Ltd