Yesterday, Delek Real Estate Ltd. (TASE: DLKR), controlled by Yitzhak Tshuva, announced the sale of its 50% stake in the Bitan Aharon shopping center to his daughter for NIS 38 million, after nine months of negotiations. However, residents of Moshav Bitan Aharon, who own the other half of the shopping center, told "Globes" that until a deal is signed with them - there is no deal.
The residents have first refusal rights to acquire Delek Real Estate's stake in the property, and they are reportedly demanding a personal guarantee from Tshuva as a condition for approving the sale.
Delek Real Estate said in response, "The deal was legally closed in accordance with the necessary permits under the circumstances."
Carmit Elroyi (44) is Yitzhak Tshuva's eldest daughter, and the wife of Ronny Elroyi, the controlling shareholder in failing holding company Kaman Holdings Ltd. (TASE:KMNH). He was recently appointed chairman of Delek Real Estate.
In 2007, Carmit Elroyi founded Farmacin Ltd., for the production and sale of Chinese children's remedies. Since July 2010, the company has been a vendor for a range of products, including energy bars, tissues, and hand gels to Delek Israel Fuel Corporation Ltd. (TASE: DLKIS), the Israeli gas stations and convenience stores unit of Delek Group Ltd. (TASE: DLEKG), also controlled by Tshuva. Sales to Delek Israel's Menta convenience stores total hundreds of thousands of shekels a year.
Carmit Elroyi was appointed chairwoman of Delek Israel in September 2011, a year after she was appointed to the company's board of directors. She has a BA in special education and the humanities from Tel Aviv University, and an MA in Chinese medicine from Pacific College of Oriental Medicine in the US.
Delek Real Estate is in talks on a NIS 2.1 billion debt settlement with its bondholders and creditors.
Delek Real Estate's share price fell 3.1% in morning trading today to NIS 0.22, giving a market cap of NIS 88 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 11, 2012
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