Phoenix to invest NIS 234 million in PowerGen at NIS 3.25 billion valuation

Phoenix Finance (TASE: PHOE) will invest NIS 234 million in Generation Capital’s PowerGen for a 7.2% stake, and will raise its holding to 12.4% through a conversion of prior financing. The transaction implies a NIS 3.25 billion valuation for PowerGen, up from the NIS 1.26 billion value recorded in Generation Capital’s books at the end of 2024. Generation Capital said the move is expected to generate an estimated NIS 270320 million in second-quarter pre-tax profit for the fund.