No winner has been named in the international tender published by Comverse Technology Inc. (Pink Sheets: CMVT) for land in Ra'anana's Kiryat Etgarim high-tech industrial zone. The tender was closed yesterday. Sources inform ''Globes'' that Comverse will hold an auction next week, instead, and will likely announce the winner by the end of the month.
Comverse published the tender for the two lots, with a total area of 55 dunam (13.75 acres), last month. Real estate sources estimate the value of the lots at NIS 124-135 million, with some estimates as high as NIS 150 million. Comverse has owned the two lots for ten years.
The sources said that 15 bids were submitted. Pangaea Real Estate Ltd. (TASE:PNGD), controlled by Barak Rosen and Asi Tuchmayer, notified the TASE that its subsidiary Pangaea Israel Ltd., was one of the bidders, but it did not disclose the size of its bid.
Comverse said, "It is still too early to discuss the issue."
Comverse's share opened at $5.17 in New York today, giving a market cap of $1.04 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on September 2, 2010
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