Levy bought 4,300 shares in the holding company for NIS 48.90 per share yesterday and now has 1.74 million shares.
Businessman Rami Levy, owner of Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI) has become a party at interest in real estate holding company Norstar Holdings Inc. (TASE: NSTR), after buying a 5% stake. Levy bought 4,300 shares for NIS 48.90 per share yesterday and now has 1.74 million shares. Norstar is the controlling shareholder in income producing real estate company Gazit-Globe Ltd. (NYSE: GZT; TASE: GZT).
Last week Norstar controlling shareholder Chaim Katzman signed a cooperation agreement with building contractor Yitzhak Sela, who holds a 5% stake in Norstar, which gives Katzman power of attorney to vote on behalf of his shares. Katzman is deputy chairman of Norstar and CEO of Gazit-Globe. Katzman himself has a 28.1% controlling stake in Norstar after selling some of his holdings to real estate company Israel Canada (TASE: ISCN), controlled by Assaf Tuchmeir and Barak Rosen.
Sources close to the matter say that Israel Canada is now in talks to sell its 22% stake to Amos Luzon, which could threaten Katzman's control of the company.
Published by Globes, Israel business news - en.globes.co.il - on April 7, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Rami Levy Photo: Yonatan Bloom