Len Blavatnik back in for Channel 10

Len Blavatnik and Avi Giladi

RGE Group has renewed talks with Bank Leumi to finance the acquisition, sources inform "Globes."

RGE Group, owned by Len Blavatnik, Aviv Giladi, and the Recanati Group, has renewed talks with Bank Leumi (TASE: LUMI) to finance the acquisition of Channel 10, sources inform "Globes." Channel 10 still has a debt to the bank, which the investor group is meant to cover as part of the deal.

The group, which holds the sports channels and the children's channels, among other things, has in the past 24 hours renewed talks with Channel 10 controlling shareholder Yossi Maiman, and pushed aside Ilan Shiloah, who was close to signing a deal to become the channel's controlling shareholder.

All told, RGE group is meant to invest NIS 200 million in the deal, and estimates are that the guarantees Bank Leumi is requiring to finance the deal are higher than those deposited by Maiman.

Published by Globes [online], Israel business news - www.globes-online.com - on May 26, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

Len Blavatnik and Avi Giladi
Len Blavatnik and Avi Giladi
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