Clal Industries, controlled by British-American businessman Len Blavatnik has sold its 50% stake in Taavura Holdings Ltd., which it held through the Nesher Israel Cement Enterprises Ltd., to Leumi Partners and The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) (20% to each) at a company value of NIS 1.25 billion and the 10% balance to the Livnat family at a premium, giving the company a value of NIS 1.4 billion. Taavura is engaged in heavy haulage, logistics, vehicle imports and more.
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Blavatnik’s Clal in talks to sell Taavura stake
Avraham Livnat Ltd., controlled by the Livnat brothers, Zeev, Zvi and Shay, which until now owned 50% of Taavura, has thus increased its stake to 60%.
Altshuler Shaham and Menorah Mivtachim Holdings Ltd. (TASE: MORA) also bid in the tender for the shares issued by Clal Industries. Blavatnik has received 30% less than his original asking price for the shares last year.
Published by Globes, Israel business news – en.globes.co.il – on May 21, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019
Published by Globes [online], Israel business news – en.globes.co.il – on May 21, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019