Eli Rozenberg, the son of businessman Kenny (Naftali) Rozenberg, who has been revealed as the businessman interested in purchasing El Al, sent an official investment offer through his lawyer to El Al’s board of directors, Calcalist reported.
The letter offers a $75 million investment proposal, in exchange for a private allotment of EL AL shares at a rate that will account for 44.9% of the issued capital and voting rights at El Al.
Rozenberg deposited $15 million, about 20% of the offer, in a trust account at Mizrachi Tefachot Bank to show the seriousness of his offer. The proposal is valid until August 2020 and is intended to bypass the Finance Ministry’s bailout plan.
The amount offered was set according to El Al’s market value of $95 million, 5% more than its value on the stock exchange.
(YWN Israel Desk – Jerusalem)