Former Mossad chief and real estate tycoons back controversial Israeli drone company
Investor group led by Ronen Elad, with Yossi Cohen, Barak Rosen and Assi Touchmair, targets strategic reset at Aerodrome.
Aerodrome shares rose 8.5% on Friday on the Tel Aviv Stock Exchange, as the drone company prepares for a potential shift in its control structure. The move includes the expected addition of former Mossad chief Yossi Cohen and real estate entrepreneurs Barak Rosen and Assi Touchmair, co-owners of the Israel Canada group.
The three are part of an investor group led by Ronen Elad through Elad Holdings. Their entry into the company is subject to approval at a shareholders’ meeting scheduled for April 23. According to the notice, the group consists of “key individuals intended to support and strengthen strategic aspects of the company’s activities.”
Cohen is expected to invest in the company and play a role in its leadership, with a focus on accelerating business development and strengthening ties with potential international customers. Elad Holdings said that the addition of Rosen and Touchmair is expected to enhance Aerodrome’s connections with capital markets and financial institutions.
Subject to shareholder approval, Elad himself is also expected to be appointed to the board of directors. However, the company did not specify the formal roles that Cohen, Rosen, and Touchmair would assume.
The potential ownership change comes at a sensitive time for Aerodrome. The defense sector is experiencing heightened demand, but the company’s shares had previously declined following a reduction in an order from the Ministry of Defense and delays in reporting the development. In December, the Israel Securities Authority raided the company’s offices and launched an investigation into both current and former senior executives over the reporting lapse.
