ILD Insurance paid NIS 8 million for Shoresh Health Services.
ILD Insurance Co. (TASE: ILDH), controlled by chairman Eli Elezra, has acquired 50.01% of dental clinic chain Shoresh Health Services Ltd. for NIS 8 million. Shoresh owner Avraham Sinai will continue to own the other 49.99%.
ILD Insurance paid NIS 3 million for Shoresh shares and provided a NIS 5 million owners’ loan. It will also participate in guarantees to banks and third parties to cover Shoresh’s liabilities proportionate to its stake in the company.
Shoresh was founded in 1982. The nationwide clinic chain provides dental diagnosis, care, and esthetic services.
Published by Globes [online], Israel business news - www.globes.co.il - on October 31, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007