97% of the IDB Development Series 9 bondholders support the bid by Yigal Dimri to buy Israir Airlines and Tourism Ltd. The Israeli real estate developer and building contractor has offered to buy Israir at a company valuation of NIS 169 million.
However, Dimri submitted his bid the day after the deadline set by IDB trustee Adv. Ophir Naor so that the selection of Dimri is likely to be protested by the other bidders - BGI Investments (1961) Ltd. (TASE: BGI), controlled by Rami Levy and Shalom Haim, and Dor Alon (TASE: DRAL), controlled by Moti Ben-Moshe. IDB itself has yet to form an opinion on the matter.
Dimri offered to buy 83% of Israir's shares for NIS 140.4 million with 17% left in the hands of the trustee for the IDB Series 9 bondholders until Israir lists for trade on the Tel Aviv Stock Exchange (TASE), or is acquired.
Dimri is planning to list Israir on the TASE, within 18 months of completing the acquisition of the airline.
Published by Globes, Israel business news - en.globes.co.il - on December 17, 2020
© Copyright of Globes Publisher Itonut (1983) Ltd. 2020