Apax founder Sir Ronald Cohen invests in Brack Capital

Cohen did not pay cash, but in exchange for his 5% holdings in three Brack Capital property companies.

Apax Partners founder and former chairman Sir Ronald Cohen has become a shareholder in Brack Capital Properties NV (TASE: BCNV). Brack Capital allocated Cohen's private company, Helliot Luxembourg Sarl, 7,500 shares, amounting 0.13% of the company at NIS 160 per share, a 23% premium on Monday's closing price, for a total of €237,000.

Cohen did not pay cash, but in exchange for his 5% holding in three property companies - Brack Capital (Offenbach) B.V.) Brack Capital Rohrbach (Netherlands) BV, and Brack Capital (Duisburg) BV. He also owns 5% of Brack Capital Wuppertal GmbH. Former Bank Hapoalim chairman Shlomo Nehama also owns shares in these companies.

Brack Capital Properties owns 5,000 residential units and 30 commercial properties in Germany, as well as developing two projects - an office park and 1,000-apartment complex - in Dusseldorf.

Brack Capital's share price fell 0.6% to NIS 125, giving a market cap of NIS 713 million.

Published by Globes [online], Israel business news - www.globes-online.com - on October 26, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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