Eliezer Fishman and Haim Bar-On today (Wednesday) announced that they had acquired the shares of the Zina company from the family of Zeev Mozes. Zina holds 12.5% of the shares of the Yediot Aharonot group, which includes the "Yediot Aharonot" newspaper, and its economic extensions. In addition, the two men have made a purchase offer for the 12.3% balance of the Zeev Mozes family shares in Yediot Aharonot. The purchase offer will be valid for 60 days.
Zeev Mozes said that, having brought about the expansion of the Yediot Aharonot Board of Directors, and received appropriate consideration, he is selling his holdings "so as to put an end to the struggles within the group, and create a quiet atmosphere that will enable Yediot Aharonot to succeed and prosper". According to him, "the Fishman - Bar-On group will create a possibility of the company being managed in a purposive, businesslike and victorious fashion".
The price was not disclosed. Two years ago, economist Avi Hefetz published a valuation placing the worth of the Yediot Aharonot group (at that time), at $461-449 million.
Adv. Dan Avi Yitzhak, counsel for group shareholders Tami Mozes Borovitz and Oded Mozes, claimed, a few months ago, that "None of the group shareholders will sell shares in the newspaper at a value of less than $600 million". It is assessed that the amount paid by Fishman and Bar-On is in the range of Avi Yitzhak’s evaluation of the shares they purchased. The acquisition was made through a separate company formed by the two men for the purpose of the transaction.
The balance of the Yediot Aharonot shares is divided between Oded Mozes - 25%; Dov Yudkovksy - 8%; Miriam Nofech-Mozes - 11%; 31% of the shares are held by Arnon Mozes and his sisters, Judy Mozes-Nir-Shalom and Tami Mozes-Borovitz. According to the will of Noah Mozes, his son Arnon holds power of attorney to vote on behalf of his sisters, since the shares are held in trust by him.
According to an announcement yesterday (Tuesday), Borovitz-Mozes claims, through Avi-Yitzhak, that her brother, who served as the newspaper’s chief business manager, violated the duty of trust arising from the power of attorney held for her.
It should be noted that the Tel-Aviv District Court today issued a temporary injunction, forbidding Arnon Mozes to join the group bidding under the tender for the third cellular telephone operator,
Eliezer Fishman and Haim Bar-On are owners of "Globes".