Nochi Dankner buys 3% of IDB from Ilan Ben Dov

The off-floor transaction was made at NIS 95 per share, or 1.86% above the closing price. Ganden Investments now has a 37.6% stake in IDB Holdings.

Nochi Dankner continues increasing his stake in IDB Holding Corp. (TASE:IDBH). Dankner and Suny Electronics (TASE:SUNY) CEO Ilan Ben-Dov today announced that holding company Ganden Investments (1999) Ltd. had acquired 3% of IDB Holdings from Suny. Ganden now has a 37.6% stake in IDB.

The off-floor transaction was made at NIS 95 per share, or 1.86% above IDB's closing price.

Over the past several months, Dankner family members have continued increasing their stakes in IDB Holdings. Ganden Investments, in which Nochi Dankner owns 40%, recently upped its stake in IDB Holdings to 34.6%. It should be noted that not only Nochi increased his share; his sister Shelly Dankner-Bergman has done likewise.

Ben-Dov stated today that Suny would continue to own shares in IDB Holdings, saying, "I believe that IDB, with Nochi Dankner at its head, is an excellent holding company."

Suny has interests in the IDB group, including stakes in Scitex (Nasdaq:SCIX; TASE:SCIX), Elron Electronic Industries (Nasdaq:ELRN; TASE:ELRN), and IDB Development Corp. (TASE:IDBD).

Nochi Dankner today expressed his satisfaction that Suny, with Ben-Dov at its head, would retain its holdings in the IDB group.

Published by Globes [online], Israel business news - www.globes.co.il - on Monday, December 27, 2004

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