Leviev sells half Channel 9 stake to investor group

The group is headed by Alexander Levin, an executive producer at TeleAlliance and other international production companes.

Lev Leviev and Africa-Israel Investments Ltd. (TASE:AFIL), which Leviev controls, have announced the signing of an agreement to introduce a strategic investor into Vash Telecanal, which holds the license for Channel 9, Israel's Russian-language television channel. Vash Telecanal is 46% owned by Africa-Israel, and 46% owned by Lev Leviev through a private company. An investor group led by Alexander Levin will invest in Vash Telecanal in return for 48% of the company.

The investor group has advanced $1 million to Vash Telecanal, which will be returned if the deal, which is subject to approval by regulators, shareholders, and third parties, is not completed.

Levin is a partner and executive producer in international production and content companies such as TeleAlliance Media Group, Tele-Format, TBC, Russia's Channel 6, and NTV.

Africa-Israel said in its announcement today, "The professional know-how and international experience of the investor group headed by Alexander Levin will assist in the production of arractive content that will contribute to raising the channel's rating and enhance its value."

Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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