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Article: Israel: IDB buying Israir from Dankner in insider deal.
- Article from:
- TendersInfo
- Article date:
- August 10, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: babalu03
The IDB group is buying Israir from Ganden Holdings in an insider deal approved late last week by the boards of both IDB Holding and its subsidiary, IDB Development, which will actually carry out the acquisition.
Both the IDB group and Ganden Holdings are controlled by businessman Nochi Dankner plus partners, but the partners differ: He owns IDB together with the Livnat and Manor families, and Ganden together with Avi Fisher.
Technically, the deal involves buying Ganden Tourism and Aviation from Ganden Holdings, then merging the tourism arm with IDB group company Clal Tourism. Ganden Tourism owns 93% of Israir.
The ...