Tamir Sapir, who according to Forbes has a net worth of $1.4 billion, is investing in FD Holdings Group Ltd., owned by Ziel Feldman of the US, which is the controlling shareholder in Polar Investments Ltd. (TASE: PLR).
The new sent Polar's share soaring 9.2% on the Tel Aviv Stock Exchange today while the company's bond climbed 15%.
Sapir, born Temur Tepiashvilli in Georgia in the Soviet Union in 1949, moved with his family to Israel in 1973 before immigrating to the US shortly afterwards. He is chairman of the New York based real estate holding company Sapir Organization.
In a rare media interview he told "Globes" three years ago that, "My only contribution has been to build a Georgian synagogue in Lod. I do not invest outside of New York. I do not invest in Europe or other continents. New York is the place I know and where I am in control."
It is not clear what caused Sapir's change of heart or how much of FD Holdings he has acquired.
Last week Leader Holdings and Investments Ltd. (TASE: LDER) sold its stake in FD Holdings Group Ltd., for NIS 18.3 million.
In a notice to the TASE Leader Holdings said that it sold 811,831 Polar Investments shares, 9.5% of the share capital, to FD Holdings at NIS 22.50 per share, a premium of 17.8% on the then price of NIS 19.10.
Polar's CEO Dubi Weiss said, "This is not a deal to get us out of any trouble. Sapir has probably found something worthwhile. He's not a fool."
Published by Globes [online], Israel business news - www.globes-online.com - on April 19, 2009
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