Published On: Thu, May 28th, 2015

Elsztain seeks to delist IDB Development


Eduardo Elsztain IDB

Eduardo Elsztain is proposing to replace his current commitments under the IDB Holding debt arrangement.

Grupo Dolphin S.A., controlled by Eduardo Elsztain, is offering to buy the shares in IDB Development held by the public and seeks to delist the company. This emerges from the details of the arrangement that Elsztain is proposing in place of the previous arrangement that was part of the debt arrangement in IDB Holding Corporation.

Elsztain and Moti Ben-Moshe are committed to carrying out two offers to purchase in 2015-2016 amounting to a total of NIS 516 million, but, according to Elsztain, money is required to save IDB Development, and so he proposed to the trustees of the arrangement, Eyal Gabbai and Chagai Ulman, to replace the previous commitments with the current arrangement…. [READ MORE]

Published by Globes [online], Israel business news – www.globes-online.com

 

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