Israeli-Russian Businessman Moves Ahead With Bid To Purchase El Al

David Sapir (PR)

Israeli-Russian businessman Dr. David Sapir appointed former director-general of the Prime Minister’ Office, Adv. Eyal Gabayas, as his senior adviser in his bid to purchase a controlling share in El Al Airlines, Globes reported on Sunday. Gabay is an economist by profession and was the head of the Government Companies Authority when El Al was privatized.

Sapir, the third investor to request a permit to purchase a controlling stake in El Al, is moving ahead with his bid to buy Israel’s national airline. Sapir and Gabay met with Government Companies Authority head Yaakov Kvint on Sunday to formally present a permit request.

Sapir presented his business plan for El Al during the meeting as well as his business credentials.

Kvint informed Finance Ministry Director-General KerenTurner last week that he will not have sufficient time to examine the credentials of the three potential investors by August 31, the deadline for El Al’s public offering of $150 million on the Tel Aviv Stock Exchange (TASE), as outlined by the government’s bailout plan. However, at least so far, Turner has refused to delay the offering.

(YWN Israel Desk – Jerusalem)