As reported by ''Globes'' two months ago, Ofer Hirshson, through DCL Israel, is acquiring control of Hilan Tech.
Hirshson and Hilan Tech CEO Avi Baum have set up a jointly-owned company for the purpose of acquiring 47.5% of Hilan Tech shares. The price-tag is NIS 57 million, reflecting a company value of NIS 120 million.
A general meeting of DCL shareholders will be held this coming Sunday in order to approve the sale of a 26.7% bloc of Hilan Tech shares owned by Sahar Investec, which is controlled by Hirshson.
Following the vote, DCL will own, both directly and indirectly, 70% of Hilan Tech and will gain control of the company.
Similarly, seller Silverboim Holdings will issue a special purchase offer for 5.2% of Hilan Tech capital share at a price expected to reflect a company value of NIS 120 million.
Hilan Tech has over 30 years of experience in human resources and payroll processing and management. The company has a broad customer base, with 600 clients in a range of sectors, including high-tech, banking, cellular and academe.
Sales turnover for 2001 was NIS 86 million and operating profit, NIS 14.2 million.
Hilan Tech CEO Avi Baum will continue to serve in a similar position in the future.