Eli Rozenberg granted permit to buy El Al

El Al plane  / Photo: Yoav Yaari

The Government Companies Authority has issued Rozenberg with a permit to buy a controlling stake in the financially troubled airline.

Eli Rozenberg has been granted a permit by the Government Companies Authority to buy a controlling stake in El Al Israel Airlines Ltd. (TASE: ELAL). Rozenberg, the son of New York-based businessman Kenny Rozenberg, has bid $75 million for a 44.9% controlling stake in the financially troubled airline.

Eli Rozenberg said, "I thank the Government Companies Authority for its professional and profound examination of the matter. And now comes the moment of truth - my offer is the only way to rehabilitate El Al and take it forward to where it should be. I would be happy if the chairman of El Al were to invite me to a meeting to agree the allocation of equity in exchange for injecting NIS 260 million ($75 million) into the company and for the people of Israel who deserve a strong and stable national airline."

Published by Globes, Israel business news - en.globes.co.il - on August 4, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

El Al plane  / Photo: Yoav Yaari
El Al plane / Photo: Yoav Yaari
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