In October, Azrieli Group acquired 54% of Granite Hacarmel at a company value of $275 million.
Granite Hacarmel Investments Ltd. (TASE: GRNT) today announced that Antitrust Authority director general Ronit Kan today approved the sale of the controlling interest in the company by Boroglen to Azrieli Group, controlled by David Azrieli.
In October, Azrieli Group acquired 54% of Granite Hacarmel for $148.5 million, reflecting a company value of $275 million. Granite Hacarmel is a holding company. It main subsidiaries are Sonol Israel Ltd, and Supergas Ltd. in the energy sector, paint maker Tambour Ltd. (TASE:TMBU), and 10% of real estate company Nitsba Holdings Ltd. (TASE: NTBA).
Published by Globes [online], Israel business news - www.globes.co.il - on November 23, 2006
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