Following this deal, Michael Strauss and his sister hold 34.42% of the capital shares and 54.27% of the voting shares in Elite.
The brothers Benjamin and Michael Jesselson last week sold most of their holdings in Elite to the company’s controlling shareholder, Michael Strauss. Strauss acquired 3.7% of the capital shares and 8% of the voting shares in Elite at a consideration of NIS 40 million. Following this deal, Michael Strauss and his sister Ra’aya Ben Dror hold 34.42% of the capital shares and 54.27% of the voting shares in Elite.
The Jesselson brothers, who for many years acted as investors in various businesses without media exposure, have investments in, among others, the Promedico pharmaceuticals firm, and the Paz Chen jewellery company.
Last week it was reported that they hold shares in start-up company Mirabilis. The sale of that company to Internet giant America Online is expected to net them $16 million.
Published by Israel's Business Arena May 26, 1998