Today's pricing procedure for the sale of the new Tel Aviv central bus station was dramatic. After having been postponed a number of times, with the previous bids for its acquisition having been rejected, the deal was closed today for NIS 320 million, substantially higher than the minimum price set at the beginning of the procedure and the previous bids submitted for acquisition of the complex in southern Tel Aviv.
The winning bid was by Nitsba Holdings Ltd. (TASE: NTBA), controlled by Koby Maimon, with the Amos Luzon company in second place and Amram Avraham in third. Sources present told "Globes" that the competition was very close, with the bids rising by NIS 5 million each round.
The pricing took place in Lod at the Central District Court, where the stay of proceedings for the new Tel Aviv bus station is taking place, and was conducted by one of the trustees, Adv. Joseph Benkel, under the auspices of Judge Benjamin Arnon. Nitsba's previous bid for the bus station was only NIS 190 million. It was argued at the time that the starting price for the pricing procedure was too high, but the starting price for today's procedure was NIS 200 million.
The court approved the winning bid, and Nitsba now has 60 days to come to an arrangement with the new Tel Aviv central bus station creditors.
The new Tel Aviv central bus station, located on Levinsky St. in southern Tel Aviv and designed by late architect Ram Karmi, houses the Egged Israel Transport Cooperative Society Ltd., Dan Public Transportation Co. Ltd., Metropolitan, Superbus, Kavim, Egged Taavura, Nateev Express, and Afikim public transportation companies. 80,000 people pass daily through the station, which occupies an area of 44,000 sq.m., with 230,000 sq.m. of built-up space on several levels. According to the Tel Aviv outline plan, the bus station will be rezoned for affordable housing, public buildings, business, and culture.
Published by Globes [online], Israel business news - www.globes-online.com - on May 7, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015