Businessman and entrepreneur Yehuda (Yuli) Ofer died last night at the age of 87 in his home. Yuli Ofer was father to Liora and Doron, and now, following the death of Yuli and Sammy Ofer (the latter died on June 3 this year) the family is left with the " children's generation " that is expected to continue with the management of the family business: Idan, Eyal, Liora and Doron.
Yuli oversaw all of the Ofer family's businesses in Israel throughout the years, including a number of public companies, among them Ofer Brothers, Cvalim, and Melisron Ltd. (TASE: MLSR). The family also owns Ofer Shipping, Ofer real estate company, as well as Ofer Brothers Properties.
Recently, Yuli Ofer was involved in a dispute with his son, Doron, because of the latter's refusal to separate Ofer Holdings Group's non-financial holdings (malls and hotels) from the financial holdings (Bank Mizrahi-Tfahot) so that the Ofer family could provide minimal capital to maintain the stability of the bank. However, Doron refused, and the dispute continued, despite the Bank of Israel's ultimatum, which gave both sides a month to reach an arrangement.
In 1924, Yuli's parents and brothers, David and Sammy, moved to Israel from Romania and settled in Haifa when Yuli was six months old. Yuli served in the IDF infantry corps, rising to the rank of major; he served during Israel's wars.
An announcement released last night said, "Yuli was a people's person. He loved them and invested in them, and they loved him and invested in him. Yuli was sensitive to every private and public stirring, and he was endowed with an infinite capacity to give to his family, his friends, and his surroundings. Yuli is survived by his wife, Ruth, his daughter, Liora, and his son, Doron, as well as grandchildren and great-grandchildren. May his memory be a blessing."
Published by Globes [online], Israel business news - www.globes-online.com - on September 12, 2011
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