TASE-listed AFSK Industries has a market value of NIS 57 million. Silverboim Holdings head Zvi Barinboim is also expected to close the acquisition of software house SPL for NIS 110 million.
Youthful Silverboim Holdings head Zvi Barinboim is continuing his acquisition campaign. He thinks this is a time of opportunity to acquire businesses with stable cash flows and high profits. Sources inform ''Globes'' that Barinboim, who controls Tel Aviv Stock Exchange-listed high-tech companies such as Crow Technologies and Hilan Tech and New York-listed Robomatix Technologies (OTCBB: RBMXF), is now negotiating to buy the controlling stake in AFSK Industries, which manufactures and installs industrial electrical, monitoring and control systems.
ASFK has a current market value of NIS 57 million and is controlled by Israel Feldman and Shimon Kazansky, who each own 39%. The two men have a voting and first refusal rights agreement in the event that one of them wants to sell his stake. If the negotiations are successfully concluded, Barinboim will buy both their holdings, and own 78% of the company. The purchase price is expected to be close to the company’s market value, about NIS 50 million.
Last month, Barinboim reported through Silverboim Holdings that he was heading a group of investors attempting to take over software house SPL for NIS 110 million. SPL provides software solutions to Israeli and foreign enterprises and institutions, and markets Israeli and foreign produced software. So far as is known, the deal is about to be closed.
Published by Israel's Business Arena on 12 February 2002