Business brief
Teva's NYSE Play and Generation Capital's Energy Consolidation
A corporate reshuffle at Teva matches a multi-billion shekel consolidation of Israel's private power grid.
Business
Teva's direct NYSE listing marks the climax of its financial turnaround — unlocking access to massive US passive index funds that were previously barred from buying its shares.
BackgroundTeva has spent years restructuring under heavy debt and generic pricing pressure while transitioning toward high-margin branded therapeutics. The company currently trades on the NYSE via American Depositary Shares, which prevents its inclusion in major US stock indices like the S&P 500.
- Sales of innovative brands Austedo, Ajovy, and Uzedy exceeded $1 billion, prompting Teva to raise its full-year guidance to $16.5 billion as its high-margin shift accelerates.
- The direct listing scheduled for September 14 will eliminate Teva's depositary program, clearing a major technical hurdle for potential inclusion in US passive investment funds.
- Ordinary shares will continue to trade on the Tel Aviv Stock Exchange, ensuring the pharmaceutical giant remains a foundational local market anchor for Israeli institutional investors.
Business
Generation Capital's multi-billion shekel acquisition consolidates Israel's private power grid — positioning its PowerGen unit as a dominant force in the country's decentralized energy future.
BackgroundShikun & Binui has aggressively divested assets to reduce its heavy debt load in a high interest rate environment. Its energy arm holds a massive 3.2-gigawatt generation portfolio, including several critical natural gas and solar facilities across Israel.
- Generation Capital beat out rival infrastructure firm Keystone, agreeing to a NIS 300 million break fee that protects the seller if antitrust regulators block the transaction.
- The acquisition includes key domestic power stations like Ramat Hovav and Hagit, handing PowerGen immediate systemic leverage over Israel's decentralized electricity market.
- The transaction still requires formal approval from both the Competition Authority and the Electricity Authority, representing a major regulatory hurdle before the deal can close.
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