The media last week reported that former IDB Group controlling shareholder Nochi Dankner had sold his luxury home in Herzliya Pituah for NIS 47 million. Dankner was forced to sell the property as part of his debt settlement with the banks, to which he owes hundreds of millions of shekels.
It has now been learned that the deal was engineered by Dan Tahori, Dankner's former friend, advisor, and investment banker. Sources inform "Globes" that Tahori recently sold his home in Ramat Hasharon, for an estimated NIS 22 million, according to market sources.
The 650 square meter home on Eshel Avraham Street is on a 1,000 square meter lot. Tahori bought it from a high tech and diamond industry figure, who made an impressive profit on the deal.
In contrast to Dankner, who was forced to sell his home, Tahori's case is completely different; he is expected to reap a substantial profit. Leumi Mortgage Bank granted Tahori and his wife, Michal, an NIS 8 million mortgage on the property in 2009-2011.
Tahori's exit
Tahori was a close friend of Dankner when IDB Group was in the ascendance, and served as his business advisor. In 2006, Clal Finances, an IDB Group investment house, bought 50% of Tahori Investment House (the name of which was changed to Clal Tahori) for NIS 20.4 million. It later turned out that Clal Finances had paid a sky-high price for Tahori's investment boutique.
The partnership between the two lasted seven years (including Clal Tahori's partnership in Mustang and its management company) made Tahori NIS 30 million richer, but it ended in April 2013 on a discordant note. The value of Clal Tahori declined over the years in Clal Finance's books, culminating in a business dispute between Dankner and Tahori. This was learned when Tahori announced his intention in early 2013 of exercising an option to sell his remaining shares in Clal Tahori, which were almost worthless, to Clal Finances for NIS 14.5 million. In the end, the parties reached agreement: Tahori waived the exercise of his option in exchange for NIS 9.2 million and the transfer to him of Clal Tahori's business.
As in the case of Tahori, Dankner's home was also purchased by a high tech personality who recently made an impressive exit. Located on Shlomo Hamelech Street, the 1,000-square meter house, which has been up for sale since 2014, is now in the hands of high-tech tycoon Illya Turpiashvili, who bought it for NIS 47 million. Turpashvili is a cofounder of gaming company Plarium, recently sold to Aristocrat for $500 million.
Dankner undertook to sell the house as part of his debt settlement with the banks. Dankner and his wife left the house last May, and rented a house nearby. The property includes a swimming pool, Jacuzzi bath, five bedrooms, a fitness room, elevators, a room for screening movies, a cellar, two parking places, and a boat, among other things.
Published by Globes [online], Israel Business News - www.globes-online.com - on December 10, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017