The tender for acquiring ownership of Africa-Israel Investments Ltd. (TASE:AFIL) is moving into its second round. The count of the votes at the meeting of the company's bondholders shows that the two bids that received the most votes were YH Dimri Construction & Development Ltd. (TASE: DIMRI) controlled by Yigal Dimri, and Lapidoth Capital, controlled by Jacob Luxenburg.
Following these results, another vote will be held on these two bids. The bid getting the most votes in the second round will receive the right to negotiate with the representatives of Africa Israel's bondholders for acquiring ownership of Africa-Israel as part of its general debt settlement.
Three other bidders took part in the tender besides Y.H. Dimri and Lapidoth: Mivtach Shamir, controlled by Meir Shamir; Coleridge, controlled by Larry Meisel, in cooperation with the Netanel Group; and Gad Zeevi. Last Thursday, the bondholders voted on the five bids, with the two bidders receiving the most votes slated to advance to the second round.
All five bids were composed of packages of proceeds valued between NIS 1.1 billion and NIS 1.2 billion.
Published by Globes, Israel business news - en.globes.co.il - on August 26, 2019
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