Reed Elsevier Ventures has asked Noam Lanir to consider submitting an offer of purchase, and delist the company.
Online translation company Babylon Ltd. (TASE:BBYL) shareholder Reed Elsevier Ventures 2004 Partnership LP has asked Noam Lanir to consider submitting an offer to purchase for all of Babylon's shares, delist it from trading, and turn it into a private company.
Publisher Reed Elsevier NV (NYSE: ENL, RUK; LSE: REL; Euronext: REN) owns 18.3% of Babylon through Reed Elsevier Ventures. Lanir owns 24% of the company, 15.7% through Chanpak Managment Ltd. and 8.3% through Livermore Investments Group Ltd. (AIM:LIV). Babylon's share price has fallen 27% from its peak on July 30, to a current market cap of NIS 1.1 billion, prompting Reed Elsevier Venture's request. Babylon is considering the request, but has taken no decision about cancelling its planned Nasdaq offering, and, for now, the company is going ahead with it.
Published by Globes [online], Israel business news - www.globes-online.com - on October 28, 2012
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