Israir Airlines and Tourism Ltd. CFO Assaf Zur was on board this morning's Etihad Airways flight between Tel Aviv and Abu Dhabi. A source informs "Globes" that he will travel on to Dubai to conduct talks with a company that is interested in acquiring the Israeli airline.
The source adds that Zur is meeting with a "very serious company in the tourism sector." Zur will also meet with the Israeli businessperson who has made the connection between Israir and the interested company, which wants to progress in its negotiations.
Last week Dubai-based NY Koen Group announced that it was going to submit an offer to acquire Israir. "Gulf News" even reported that NY Koen values Israir at $70 million although a bid has not yet been submitted. The auction for Israir closes on November 8 with those interested in buying the airline required to submit bids to Adv. Ophir Naor who was appointed by the courts as trustee for parent company IDB Development.
So far the only bid to buy the airline has come from Rami Levy and Shalom Haim who have offered NIS 70 million. Levy and Haim (through his private company Taaman) hold equal shares in Shay Odem, which holds 67.7% of BGI Investments (1961) Ltd. (TASE: BGI). BGI Investments announced today that it would bid to buy Israir in a combined deal with Shay Odem or its owners Rami Levy and Taaman.
Published by Globes, Israel business news - en.globes.co.il - on October 19, 2020
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