New "Ma'ariv" owner looks to leave historic building

Zaki Rakib is interested in potential sites in Ramat Hahayal, in the northeast part of Tel Aviv.

Sources inform ''Globes'' that Hebrew daily "Ma'ariv" is set to leave its historic premises in central Tel Aviv, marking the end of an era. The paper's new controlling shareholder, Zaki Rakib, is interested in potential sites in Ramat Hahayal, in the northeast part of the city.

Rakib, a high-tech millionaire, is due to complete his acquisition of Ma'ariv Holdings Ltd. (TASE: MARV) at the end of the month. He has begun considering sites in Ramat Hahayal and has met consultants about relevant space. He has not yet chosen a site.

When the deal is complete, Rakib will own 44% of Ma'ariv Holdings, and Israel Land Development Company (TASE: ILDC), controlled by Ofer Nimrodi, will also own 44%. The public will own the remaining 12%.

At the "Globes" Marketing and Communications Conference in July, Rakib told "Globes" editor Haggai Golan, "We want to move to a new place. This is part of therenewal and innovation that we want to instill. We'll want to move to a place where there is both high tech and media, and there are such places in Israel."

Several high tech and communications companies rent space in Ramat Hahayal.

Published by Globes [online], Israel business news - www.globes-online.com - on August 15, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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