The Bern Group and the Aluma Infrastructure Fund have signed an agreement for strategic cooperation in the field of management, initiation, planning, construction, and operation of wireless communication sites leased to the cellular companies. As part of the agreement, Bern will invest NIS 5 million in a subsidiary of Aluma, Tiber, in exchange for an allotment of 9% of Tiber shares.
Tiber, whose control (85%) was recently acquired by the Aluma Foundation, establishes and operates wireless communication sites that are leased to the cellular companies and owns 65 sites. Establishment and maintenance of communication infrastructures and sites for wireless communication.
Aluma is an infrastructure investment fund established as part of the government’s policy to encourage the establishment of retail funds for investment in infrastructure in the REIT format and to involve the public in infrastructure investments in Israel. Aluma was founded by Miki Zakaria, Nati Shachor, Yinon Yogev, Molly Rabina and Uri Yogev.
According to Sharon Zeid, CEO of Bern: “The Korna crisis illustrated the need for the deployment of additional communications towers in Israel in order to address the sharp demand for broadband. In addition, the cellular companies plan to deploy hundreds of new sites with the entry of 5th generation technology and the need for quality and broadband communications in Israel.
Bern, together with Aluma, offer a complete solution of setting up, financing and managing the sites while the ownership of the sites belongs to Bern and Aluma. In doing so we allow telecom operators to deploy hundreds of new sites after years of stagnation. The good news we bring today, in the field of media website management, is based on models that have been an impressive success in many places in the world. “