The sale of shares in Koor and Property & Building for NIS 95 million is part a plan to raise NIS 150 million from such sales.
Discount Investment Corporation (TASE: DISI), a unit of IDB Holding Corp. Ltd. (TASE:IDBH), controlled by Nochi Dankner, has sold shares in Koor Industries Ltd. (TASE:KOR) and Property and Building Ltd. (TASE: PTBL) for NIS 95 million. The sales are part of the company's plan, announced last week, to sell shares in subsidiaries for NIS 150 million. The company now needs to sell NIS 55 million worth of shares in Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) to carry out the plan.
Discount Investment today announced that the sales were made yesterday, but that some deals made yesterday would be implemented today. Discount Investment sold 2.8% of Koor shares for NIS 65 million, and 2.6% of Property and Building for NIS 30 million.
Following the sales, Discount Investment owns 67.3% of Koor and 76.7% of Property and Building. The company also owns 47.04% of Cellcom, which has a market cap of NIS 2.74 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on February 11, 2013
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