Eli Rozenberg, the son of businessman Kenny (Naftali) Rozenberg, who has been revealed as the businessman interested in purchasing El Al, sent an official investment offer through his lawyer to El Al’s board of directors, Calcalist reported.
The letter offers a $75 million investment proposal, in exchange for a private allotment of EL AL shares at a rate that will account for 44.9% of the issued capital and voting rights at El Al.
Rozenberg deposited $15 million, about 20% of the offer, in a trust account at Mizrachi Tefachot Bank to show the seriousness of his offer. The proposal is valid until August 2020 and is intended to bypass the Finance Ministry’s bailout plan.
The amount offered was set according to El Al’s market value of $95 million, 5% more than its value on the stock exchange.
(YWN Israel Desk – Jerusalem)
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4 Responses
That’s like me offering $25,000 for a house in Beverly Hills
Tgishabbos,
I don’t see your analogy
He offered 75 million for a company valued at 95 million and only wants 45% of it
He is offering 75 million plus take over the crushing debt that the company currently owes so its a lot higher then the 75 million
the government bailout is $400 million