Confirmed: Rami Levy buys Digal's Nof Zion project

76.81% of the bondholders supported Rami Levy's bid, and 94.31% rejected Al- Palestinian American businessman Bashar Masri's bid.

As "Globes" reported yesterday, the Nof Zion residential project adjacent to Jebel Mukhbar village in east Jerusalem will remain in Jewish hands. Digal Investment and Holdings Ltd. (TASE: DIGL) has published the results of the bondholders' vote. They chose the offer by supermarket owner Rami Levy and his Australian Jewish partner Kevin Bermeister. The bondholders rejected the offer by Palestinian American businessman Bashar Al-Masri under pressure from Israel's national religious community, which threatened to withdraw their money from financial institutions that supported Al-Masri.

The bonds' trustee, Hermetic Trust Services (1975) Ltd., reported that 76.81% of the bondholders supported Rami Levy's bid and that 94.31% rejected Al-Masri's bid.

Yesterday, the institutional investors who hold Digal's bonds said that they had withdrawn their support for Al-Masri, foiling his attempt to take over the Nof Zion residential project as part of a debt settlement with Digal's creditors.

Published by Globes [online], Israel business news - - on January 12, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

View comments in rows
Update by email about comments talkback
Your name
Please insert your name
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters גלובס MAD Conference 2017