The company value for the sales is NIS 600 million, double the value of the purchase.
Hebrew daily “Yediot Ahronot” reports that two days after buying Albar Financing, Ashkelon businessman Eli Elezra is negotiating with a provident fund to sell 20% of it at a company value of NIS 600 million.
Elezra paid Discount Investment Corporation NIS 280 million for Israel’s largest leasing company. This means that if the sale goes through, it will be at double the original purchase price.
Elezra neither confirmed nor denied the report. As for his intentions for his new company, he said, "There will be no staff change. I have full confidence in the company's managers and CEO Avshalom Hershcovich. One of Albar's most important assets is its professional staff, which I intend to augment."
Albar currently has 240 employees
Published by Globes [online] - www.globes.co.il - on September 24, 2002.