Bondholders to import U.S. offer to buy Africa Israel in sell for haircut
Africa Israel Investments bondholders will be asked on currently if they are prepared to cruise an offer by a U.S. financier Westport Capital Partners to buy a heavily gladdened skill developer in sell for a 500 million-shekel ($129.8 million) money injection.
The money would be divided adult among bondholders as they see fit, though in sell they would also have to determine to write off 700 million shekels, or 25%, of a debt due them as partial of a understanding and modify 150 million shekels of debt into equity.
Westport, that was founded in 2005 by Russell Bernard and manages some $2 billion in assets, pronounced a offer is non-binding though fortuitous on bondholders similar to give it 30 days of exclusivity to control due attention before it goes forward with a final offer.
Africa Israel has been intent for months in sluggish negotiations with bondholders over a bailout of a company. Shares of Africa Israel finished down 4.2% during 1.19 shekels. (Shelly Appelberg)
Cellcom blames Golan as third-quarter distinction declines
Cellcom Israel, a country’s largest mobile phone operator, reported reduce third-quarter distinction yesterday, blaming partial of a problem on opposition Golan Telecom’s unwell to compensate a full volume it concluded on for a use of Cellcom’s network.
Golan filed a lawsuit in an Israeli justice final month, dogmatic it does not owe a association 600 million shekels ($155.7 million) for inhabitant roaming services that Cellcom had been providing it. Cellcom warranted a net distinction of 33 million shekels in a quarter, down from 40 million a year progressing as income fell 3.9% to 992 million shekels.
The association had been foresee to acquire 35 million shekels on income of 1.02 billion shekels, according to a Reuters check of analysts. Cellcom’s subscriber bottom declined by 0.4% in a entertain from a same time final year to 2.822 million, though a TV subscriber bottom scarcely doubled to 99,000 households. Shares of Cellcom finished down 2.1% to 27.31 shekels. (Reuters)
Playtech buys 70% interest in brokerage-service organisation for $120 million
Playtech, a gaming-software association tranquil by Israeli Teddy Sagi, pronounced it was shopping control of Consolidated Financial Holdings, that provides online trade services to sell brokers. Playtech, that pronounced it had already perceived approvals for a acquisition, will compensate $120 million for a 70% interest in a association and took an choice to buy a rest later.
“CFH has proven technological capabilities and has grown not usually a heading height in a STP brokerage industry, though also relations with an considerable operation of sell broker,” pronounced Playtech CEO Ron Hoffman.
“The merger of CFH will strengthen Playtech’s charity in a B2B marketplace of financial trade and yield a substructure for destiny acquisitions.” The merger is approaching to be finished by a finish of a month, after that many of CFH’s government is approaching to stay on, Playtech added. Shares of Playtech finished 3% aloft during 909 pence ($11.33) in London. (Uri Tomer)
Tel Aviv shares finish churned as markets find post-Trump direction
Tel Aviv shares finished churned Monday as tellurian financial markets continued their query to make clarity of a Trump presidency. The blue chip TA-25 index finished down 0.2% to 1,429.72 points, while a TA-100 edged adult 0.06% to 1,248.48, on turnover of 1.64 billion shekels ($430 million). Bank shares were churned after mountainous to a record tighten a day before. Hapoalim was a volume personality for a marketplace on turnover of 143 million shekels though finished unvaried during 22.85 shekels. Leumi finished down 1.3% during 15.61 and Mizrahi Tefahot 1.1% reduce during 53.60.
Other large losers were Nice Systems, that strew 3.35% to 251.10 and Bezeq, that mislaid 1.6% to 6.70. El Al Airlines mislaid 1.7% to 3.50 after a Histadrut announced a labor dispute. But Perrigo gained 2.4% to 350.20 and tech shares were higher. Ceragon jumped 9.7% to 9.72 after stating net distinction rose to $3.5 million in a third entertain from $1.4 million a year ago. (Shelly Appleberg)
Article source: http://www.haaretz.com/israel-news/business/daily-roundup/1.753222