Dankner in talks to add Nakash bros. to IDB bid consortium

The Nakash brothers, the owners of Arkia Airlines, would become the seventh partner in the consortium.

Two days before the improved bids for the acquisition of IDB Holding Corp. Ltd. (TASE:IDBH) are submitted to the court, its chairman, Nochi Dankner, is in talks to add the Nakash brothers to his consortium with Alexander Granovsky. The Nakash brothers, the owners of Arkia Airlines Ltd., would become the seventh partner in the consortium, which already includes Dankner, Granovsky, Neto Malinda Trading Ltd. (TASE: NTML), controlled by the Ezra family, the Noiman family, which owns the Alon Group garage chain, and Netz Group Ltd. (TASE:NETZ).

The Dankner-Granovsky consortium is continuing its efforts to raise capital to make a NIS 900 million bid for IDB. Earlier this month, the consortium added Neto Malinda, which would become the second largest partner in the consortium, with a 15% stake for a NIS 135 million investment.

Dankner and Granovsky have committed to inject NIS 500 million through a new company, which would own 55.5% of IDB. The Noiman family would acquire 13%, with an investment of NIS 120 million, and Netz Group would own 7%, with an investment of NIS 65 million.

Published by Globes [online], Israel business news - www.globes-online.com - on November 24, 2013

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

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