Melisron Ltd. (TASE: MLSR), controlled by Yuli and Liora Ofer through Ofer Investments Ltd., is in talks to acquire the controlling interest in British-Israel Investments Ltd. (TASE: BRTS), controlled by Leo Noe (a 55.8% stake through UK One BV), and Pujo Zabludowicz (15.7% through the Zabludowicz Trust).
Although the price tag is unknown, the talks are at a premium on British-Israel's market cap of NIS 1.83 billion.
British-Israel announced the talks in a one-line notice to the TASE.
Melisron has a market cap of NIS 1.98 billion. It posted NIS 231 million revenue in the first half of the year, up 62% on the first half of 2009, and it posted a net profit of NIS 18 million.
British-Israel owns a number of malls throughout Israel. The company posted NIS 363 million revenue in the first half of the year, up 14% on the first half of 2009, and it posted a net profit of NIS 154 million.
Melisron's share price rose 1.3% by early afternoon to NIS 88.60, and British-Israel's share price rose 4% to NIS 11.45.
Published by Globes [online], Israel business news - www.globes-online.com - on September 5, 2010
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