Kenny Rozenberg immigrates to Israel

Kenny Rozenberg  / Photo: From Youtube

The father of El Al controlling shareholder Eli Rozenberg immigrated to Israel today and plans living in Jerusalem.

Kenny Rozenberg, the American billionaire father of Eli Rozenberg, who became controlling shareholder in El Al Israel Airlines Ltd. (TASE: ELAL) six months ago, has immigrated to Israel. He touched down at Ben Gurion airport this afternoon on an El Al flight from New York and was greeted by the airline's management and received his ID papers and citizenship.

Kenny Rozenberg financed the El Al deal for his son and has so far Rosenberg's parent company Kanfei Nesharim has invested $160 million in the airline in two rounds of public offerings on the Tel Aviv Stock Exchange (TASE). That amount is expected to grow to $200 million after El Al receives an upfront payment of NIS 1 billion from the Ministry of Finance for fees for aircraft security over the next year. According to the package, the payment will be contingent on the controlling shareholder injecting more money into the company.

Kenny Rozenberg was not able to himself become the controlling shareholder in El Al because he did not hold Israeli citizenship. Today he received his Israeli ID papers and can now in theory become the controlling shareholder in the airline together with his son.

Kenny Rozenberg, a US citizen, submitted a request to immigrate to Israel several weeks ago and he plans living in Jerusalem. He arrived in Israel today accompanied by an entourage, which included senior executives from his US company, as well as other new immigrants.

Sources inform "Globes" that Kenny Rozenberg received special permission from the exemptions committee to fly to Israel and has asked to relinquish his rights to financial support as an immigrant.

Kenny Rozenberg is the founder, owner and CEO of Centers Health Care, which owns and operates dozens of nursing homes, rehabilitation centers and care facilities in North America. His son Eli Rozenberg immigrated to Israel several years ago and lives in Jerusalem.

The Ministry of Aliyah and Integration said, "We cannot provide information about immigrants that do not allow information about them to be provided. But if the report is true then we welcome all immigration and certainly by a person of his status who has contributed to Israel in this difficult time."

Published by Globes, Israel business news - en.globes.co.il - on March 8, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Kenny Rozenberg  / Photo: From Youtube
Kenny Rozenberg / Photo: From Youtube
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