Club Hotel owns a chain of clubs and hotels in Loutraki and Rhodes in Greece, and in Eilat and Tiberias in Israel.
Hebrew daily “Yediot Ahronot” reports that businessman Nissan Khakshouri is holding advanced negotiations to sell his 50% stake in Club Hotel at a company value of over €160 million. The negotiations are reportedly with a group of Russian investors.
Club Hotel owns a chain of clubs and hotels in Loutraki and Rhodes in Greece, and in Eilat and Tiberias in Israel. Club Hotel also owns a casino in Loutraki and subsidiaries in various industries.
Moshe Boblil owns the other half of Club Hotel. Sources close to Boblil believe that Khakshouri is issuing announcements about the sale of Club Hotel, due to the repeated failures in his legal case against Boblil over the management of the company. Boblil and Khashouri have been wrangling for a long time. Two months ago, a court ruled that Boblil would receive the management of Club Hotel. Khakshouri's appeal was subsequently dismissed.
Sources close to Boblil said that during the legal proceedings, Khakshouri had threatened to transfer his holdings to foreign entities, in an attempt to pressure Boblil to agree to a settlement.
Published by Globes [online] - www.globes.co.il - on October 26, 2004