The buyers are a group of investors, including Roni Zarom, the founder and CEO of eXalink.
After a previous failed attempt, Fishman Assets Ltd., controlled by Eliezer Fishman, has sold the controlling interest in Aspen Building And Development Ltd. (TASE:ASBD) (formerly Mario Leznik and Sons). The buyers are a group of investors, including Roni Zarom, the founder and CEO of eXalink, sold to Comverse Technology Inc. (Nasdaq:CMVT) in 2000 for $550 million. Zarom's share of the eXalink proceeds was over $200 million.
Fishman Assets will sell 37.1% of its 47.2% stake in Aspen Building for NIS 52 million, reflecting a company value of NIS 140 million, 25% above its market cap. Fishman Assets will deduct the owners loans in proportion to the size of the buyers holdings, in exchange for payment of NIS 6.4 million. The sale of Fishman Assets' remaining holding in Aspen Building is subject to first refusal rights granted the buyers for a fixed period.
Eliezer Fishman is also the controlling shareholder in "Globes".
Published by Globes [online], Israel business news - www.globes.co.il - on June 5, 2005