The two groups, headed by Ezra Hakhshouri and Yossi Granot, are paying $29.5 million for 67% of the company’s shares, sold by Yaakov Rogovin.
Two groups of investors, represented by Ezra Hakhshouri and Yossi Granot, today (Tuesday) acquired control in the Tel-Aviv Stock Exchange construction company Rogovin. The two groups paid $29.5 million for 67% of the company’s shares, which are held by the family of Efraim and Yaakov Rogovin. The balance of the shares are traded on the TASE.
Bank Hapoalim is financing the greater part of the deal, with a $22 million index-linked loan at an interest rate of 5.25%. The loan was arranged by Ehud Kaufman, manager of the concerns, capital market and authorities sector at Bank Hapoalim and the contract was signed at his office.
Hakhshouri represents a group of US, Canadian and European investors. Granot represents a second group of investors. Hakhshouri and Granot, mandated by the investors to manage the company, will also be shareholders in Rogovin. Granot will be appointed general manager, and Hakhshouri chairman.