David Fattal: For me, this investment is as much as act of patriotism as a business deal.
Fattal Hotel Management owner and CEO David Fattal and Azorim Investment, Development and Construction Ltd. (TASE: AZRM) CEO Yaakov Siso today signed the deal for the sale of Azorim Tourism Ltd. and its 12 hotels to Fattal for NIS 970 million.
Fattal said, "For me, this investment is as much as act of patriotism as a business deal. The Fattal Group will drive Israel's hotel industry forward in the coming years, creating thousands of jobs, and foster the sense of service and hosting."
Azorim owned 75% of Azorim Tourism, and its parent company Boymelgreen Capital Ltd. (TASE:BMGN) owned the other 25%.
Published by Globes [online], Israel business news - www.globes-online.com - on November 12, 2009
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