Nuriel's stake in El Al was sold

Knafaim owns 39.4% of El Al, and its controlling shareholders are Izzy and Oded Borovich. Nuriel's stake was sold to Tamares Israel's owned by Poju Zabludowicz
26.03.07 / 00:00
Nuriel's stake in El Al was sold
26.03.07
Nuriel's stake in El Al was sold
•

Knafaim owns 39.4% of El Al, and its controlling shareholders are Izzy and Oded Borovich. Nuriel's stake was sold to Tamares Israel's owned by Poju Zabludowicz
 
Knafaim-Arkia Holdings Ltd announced last week that the holding of Avshalom Nuriel in Knafaim-Arkia had been sold to Tamares Israel's owned by Poju Zabludowicz.
 
Zabludowicz reportedly paid NIS 120 million for Nuriel's holding, a price that is significantly higher than Knafaim's market cap of around NIS 95 million. Knafaim owns 39.4% of El Al, and its controlling shareholders are Izzy and Oded (Dedi) Borovich. Izzy owns 14.6% of the company. Dedi Borovich owns 13.8%, while his wife Tami Mozes-Borovich owns a further 5.36%,
 
Last week's purchase is Zabludowicz's second purchase of holdings in Knafaim, after he acquired half of Nuriel's stake in December 2005.
 
Nuriel's representative said following the announcement that the sale was part of the company's long term strategic investment policy in which the company will invest in logistic companies where it can gain controlling interest.

 

More articles that may interest you
Israel’s trade deficit averaged US$668 million a month in January-February. In the two month period January-February 2007 Imports totaled US$8.1 billion
CBS: February trade deficit $900m
FCL: Haifa: USD 26 per TEU Ashdod: USD 19 per TEU. Lines will continue to monitor the situation and the position with effect from 15th June 2007
EMTA announced new congestion surcharge at the Israeli ports of Ashdod and Haifa
The figures published last week reveal that in spite of the rather long war in Lebanon, 2006 was one of the most successful years in Israel's economic history
It's official - 2006 GDP grew by 5.1%
The workers agreed to relinquish their demands for control over outsourcing contracts, as well as their demand that the workers' committee handle all discipline problems
Ashdod Port two days strike ended with a new government approved labor contract
As of March 30th KAC will add an additional weekly cargo flight on Seoul-Tel Aviv route. Major export/import items of this route are electronic goods, computer parts, automobile parts
Korean Air Cargo to add additional weekly flight to Tel Aviv
The Israeli textile industry is expected to grow 7% in 2007, reaching about $2.54 billion, with exports to Egypt expected to surge 30% during the year
Israeli textile worker produces more than 8 times the amount of their Chinese counterparts
More news from Air Transport Section
>New aviation agreement increases flights between Israel and France/20.03.07 >Civil Aviation Authority: Israeli air carriers operate 53 aircraft/20.03.07 >Despite recommendations European budget airlines will not fly to Israel/12.03.07 >El Al: claim was submitted against 38 airlines at New York Court into alleged price coordination/05.03.07 >4% increase in cargo movement in Ben Gurion Airport/05.03.07 >Arkia Israel Airlines to operate schedule flights to Ireland and Cyprus/26.02.07 >GeoCartographia: Fedex Israel the most professional express carrier in Israel/26.02.07 >El Al to axe flights to Larnaca & Istanbul/05.02.07 >Valentine's Day: Israel to export over 100 million flowers to Europe/05.02.07 >Fedex Israel has inaugurated drop shipments service/15.01.07