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Len Blavatnik’s RGE Group to buy Channel 10

RGE will inject about $52 million into the Israeli commercial TV station for a 51% stake.

 

Len Blavatnik 640x360

 

Just three days before the deadline, content company RGE is on the verge of reaching an agreement to become the controlling shareholder in the Israeli TV Channel 10. The group, owned by Aviv Giladi, Len Blavatnik, and the Recanati family, will inject $52 million into the channel for a 51% stake in it.

RGE’s top management led by CEO Mudi Friedman, met yesterday with representatives of Bank Leumi (TASE: LUMI) for the purposes of reaching a financing deal that would make the deal possible. At the end of the discussion, it appered that current Channel 10 controlling shareholder Yosef Maiman and Arnon Milchan, who owns 25% of the shares, will receive a $10 million upside clause contingent on a future sale of the company… [READ MORE]

 

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

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