Wiessman liquidates holdings in Alon subsidiaries

David Wiessman

The former Alon CEO sold all Alon Natural Gas Exploration shares for NIS 33.8 million – ahead of potential Sonol purchase.

David Wiessman, part of the controlling interest in Alon and former CEO of the company, has sold his shares in Alon subsidiaries in the open market.

Wiessman liquidated his private holdings (4%) in Alon Natural Gas Exploration for NIS 33.8 million at a 7% discount from its price at the end of trading on Monday. On Wednesday he also sold the rest of his holdings (0.04%) in Dor Alon for NIS 205,000.

Alon Natural Gas Exploration holds 4% of the Tamar gas reservoir; Dor Alon operates gas stations and convenience stores throughout the country.

Wiessman, who was removed from the management of Alon and Alon Blue Square by his partner Shraga Biran, is currently in the midst of negotiations to buy Sonol from Azrieli Group; it is likely he sold the shares to prepare for closing the deal.

Wiessman still holds 3.2 million shares in Alon USA - worth $34 million.

Published by Globes [online], Israel business news - www.globes-online.com - on February 21, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

David Wiessman
David Wiessman
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