Len Blavatnik sells 50% Taavura stake

Zvi Livnat Photo: Anat Levron

Leumi Partners and Phoenix have each acquired 20% stakes and the Livnat brothers, who owned the other 50%, have increased their stake to 60%.

Clal Industries, controlled by British-American businessman Len Blavatnik has sold its 50% stake in Taavura Holdings Ltd., which it held through the Nesher Israel Cement Enterprises Ltd., to Leumi Partners and The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) (20% to each), at a company value of NIS 1.25 billion, and the 10% balance to the Livnat family, at a premium, giving the company a value of NIS 1.4 billion. Taavura is engaged in heavy haulage, logistics, vehicle imports and more.

Avraham Livnat Ltd., controlled by the Livnat brothers, Zeev, Zvi and Shay, which until now owned 50% of Taavura, has thus increased its stake to 60%.

Altshuler Shaham and Menorah Mivtachim Holdings Ltd. (TASE: MORA) also bid in the tender for the shares issued by Clal Industries. Blavatnik has received 30% less than his original asking price for the shares last year.

Published by Globes, Israel business news - en.globes.co.il - on May 21, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Zvi Livnat Photo: Anat Levron
Zvi Livnat Photo: Anat Levron
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