The Idan and Batia Ofer Foundation has donated £25 million ($40 million) to the London Business School. The funding will help finance the redevelopment of the Old Marylebone Town Hall, which was acquired by London Business School in late 2012. The teaching facility will be named The Sammy Ofer Center in honor of Idan’s late father, Sammy Ofer.
"One of the goals of The Idan and Batia Ofer Foundation is to ensure the next generation of Israeli entrepreneurs is equipped to cope with the challenges of globalization," said Idan Ofer, an alumnus of the school. "The London Business School is at the forefront of helping to meet these challenges. The Foundation hopes in this small way to contribute to economic growth in the region, ultimately improving the prospects for peace and stability."
Idan Ofer added, "It is a privilege to participate in helping the next generation of Israeli business leaders acquire the knowledge, experience, and ties at prestigious institutions like the London Business School. The world is changing rapidly. Countries must adapt to these changes to avoid being left behind. Hence the great importance of participation by young Israelis in the world of global economics in all its dimensions, now."
"My father, Sammy Ofer, considered investment in education to have the highest return for the company. He invested heavily in education at the individual and institutional level, and I am proud to continue this tradition."
The Ofer family has made several large donations to British institutions. In 2008, Sammy Ofer donated £20 million to the National Maritime Museum in Greenwich and after previously contributing towards the restoration of the Cutty Sark. In July 2013, the Eyal Ofer Family Foundation, belonging to Idan Ofer's brother, donated £10 million to London's Tate Modern museum.
Published by Globes [online], Israel business news - www.globes-online.com - on September 29, 2013
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