Many Israeli real estate companies have partnered with Ahouvi in his UK Hilton and Marriott hotel deals.
Israeli-born British developer Igal Ahouvi has deep ties with troubled Royal Bank of Scotland plc (LSE; NYSE: RBS), whose share tumbled over 30% in London and New York today. RBS has traded as high as $11.22 in New York in the past year and as high as ₤5.79 in London.
RBS has financed a large number of Ahouvi's property deals in the UK handled through Blenheim Property Group Ltd., including the acquisition of 15 Hilton hotels in the UK for ₤382.4 million in late 2005. A number of Israeli real estate companies are partners in this investment, including Delek Real Estate Ltd. (TASE: DLKR), controlled by Yitzhak Tshuva.
Ahouvi, through Blenheim, also participated in the acquisition of 46 Marriott hotels in the UK for ₤951.4 million in 2006 from Marriott International Inc. (NYSE:MAR) in a 30-year buy and leaseback deal. Ahouvi's Israeli partners in this deal include Delek Real Estate, Electra Real Estate Ltd. (TASE:ELCRE), FIBI Holdings Ltd. (TASE: FIBI), and Dorea Investment and Developments Ltd. (TASE:DORA).
Published by Globes [online], Israel business news - www.globes-online.com - on October 7, 2008
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