Yosef and Zwi Williger today exercised a call option given them by Arcadi Gaydamak to buy half his shares in G. Willi-Food Investments Ltd. (TASE:WLFD). The option was part of a NIS 76 million loan they extended to Gaydamak against a lien on half his shares in Willi-Food, Gilon Investments (1979) Ltd. (TASE:GILN), and Ameris Holdings Ltd. (TASE:AMRS.B1).
Gaydamak bought Willi-Food from the Willigers last year.
Yosef and Zwi Williger exercised an option on two million Willi-Food shares, amounting to 22.1% of the company. Prior to the exercise, Zwi Williger owned 10.8% of Willi-Food, and Yosef Williger, who is chairman of the company, owned 1.9%.
Yosef and Zwi Williger each lent Gaydamak NIS 38 million and will divide the Willi-Food shares equally. They are also demanding that Gaydamak honor the rest of the guarantees given to them at the time of the loan, including half his holdings in Gilon and Ameris.
Published by Globes [online], Israel business news - www.globes-online.com - on September 25, 2008
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