Alexander Granovsky sells Willi-Food

Alexander Granovsky

The food importer is being bought by Gregory Gurtovoy, a businessman and banker with Israeli citizenship residing in Ukraine.

G. Willi-Food Investments Ltd. (TASE:WLFD) is changing hands again. BGI Investments (1961) Ltd. (TASE: BGI), controlled by Alexander Granovsky, today reported that Granovsky had transferred all of his holdings in the food importer to Gregory Gurtovoy, a businessman and banker with Israeli citizenship residing in Ukraine.

The BGI announcement did not mention the price of the acquisition.

Granovsky controls 63% of Willi-Food's shares through BSD Crown (LSE: BSD) (formerly Emblaze). He acquired control of Willi-Food from the Williger brothers in March 2014, paying them NIS 268 million for 58% of the Willi-Food shares, and adding NIS 20 million more in an offer to purchase. As of now, Granovsky has lost over NIS 100 million on his investment.

The transfer of shares by Granovsky comes one day after BGI reported to the stock exchange that an Austrian bank was refusing to release $10.4 million designated for the company's bondholders. The bank notified the company that the money could be released only in one month's time, subject to discussions with it.

Published by Globes [online], Israel business news - www.globes-online.com - on July 16, 2015

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

Alexander Granovsky
Alexander Granovsky
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