Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

Global fund DK Partners bid to acquire Israeli real estate Co Engel Resources

The US fund was behind the NIS 50 million bid submitted by Yoav Kfir.

DK Partners
Davidson Kempner Capital Management, the 12th largest hedge fund in the world (as of 2013), bid to acquire the Israeli real estate business of Engel Resources and Development Ltd. (TASE:ENRS).

Engel attracted considerable interest in recent weeks, with several investment bids being submitted to the company’s receivers. The bids submitted, whether for acquiring the company in full or for purchasing some of its assets, came also from other large companies, such as Africa Israel Residences and Azorim Investment, Development and Construction Ltd. (TASE: AZRM), which earlier this week decided to retract its bid, and from private developers.

Kfir submitted his bid through Life Green Investments Ltd., and “Globes” has learned that the entity behind his bid is the DK Partners private equity firm. While Kfir has represented the firm in the past, in this case, he is also expected to take part (a 20% share) in its investment, should it win the tender to acquire Engel Resources.

If the fund’s bid is accepted, Kfir is expected to be appointed chairman of Engel Resources, and will probably be joined in the company management by former Azorim chairman Rotem Ravivi and Yehuda Vatkin, who has been active in Israeli real estate for many years.

Published by Globes [online], Israel business news – 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...


Now Platika joins and elite club of $10 billion plus Israeli firms.