Levayev will expand the company’s activity to additional fields and other countries. A new general manager will be appointed shortly.
Businessman Lev Levayev will be appointed active chairman of the Africa Israel company. Levayev intends to open up new business fields for the company, in addition to real estate and tourism in which it operates at present. Inter alia, Levayev intends to develop the company’s overseas activity, utilising his connections in various European states and in the Commonwealth of Nations.
Levayev this week completed acquisition of 54% of the controlling shares in Africa Israel and 47% of the capital shares, at a consideration of $189 million. Under an agreement with Bank Leumi, which continues for the present to hold 25% of the company’s shares, the appointments of general manager and Chairman must also secure the bank’s approval.
Levayev, through the LID company controlled by him, is one of Israel’s biggest diamond exporters. He is highly active in currency trading and also holds a proprietary interest in diamond mines in various a countries and jewellery and diamond marketing networks.
In the next few weeks, Levayev will appoint a new general manager for the company.