In May 2020, Reuters reported that Israeli real estate group Azrieli Group had sold its stake in GES Global Environment Solutions, with Generation Capital as buyer. Azrieli put the price at 105 million shekels, about USD 30 million. GES built and operated seawater desalination plants as well as facilities for industrial water, municipal water and wastewater. Azrieli did not expect a material impact on its own results. Before that, the group had already disposed of Granite Hacarmel and of its Leumi Card stake.
The report showed how a property group shed its desalination and water business to concentrate on rental real estate, with the business passing to another listed investor in Israel.
Source: Reuters (Kopie im Webarchiv)