Lev Leviev sells private jet to Noam Lanir

Leviev has bought a larger plane. Lanir needs a private jet to commute to Zurich.

27 December 07 13:21, Tali Tsipori

Lev Leviev is apparently going to London without his private jet. Sources inform ''Globes'' that the chairman of Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) has sold his Gulfstream Galaxy executive jet to Noam Lanir, the controlling shareholder and CEO of Livermore Investments Group Ltd. (AIM:LIV), for $10-15 million. Lanir will take control of the plane in a few weeks, after it undergoes a purchase test.

Leviev bought the Galaxy six years ago. The choice of a Galaxy is modest compared with the private planes of some his peers. Shari Arison, the controlling shareholder in Bank Hapoalim (TASE: POLI; LSE:80OA), Housing and Construction Holding Co. Ltd. (Shikun u'Binui) (TASE: HUCN), among other companies, owns a Boeing 737. Eitan Wertheimer, the executive chairman of Iscar Ltd., Joseph Maiman, the chairman and CEO of Ampal-American Israel Corporation (Nasdaq: AMPL; TASE:AMPL), and Mordechai Zisser, the chairman of Elbit Medical Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT), all own Challenger heavy business jets.

The Galaxy can be configured for eight to eighteen passengers. The ten-passenger configuration includes a conference/dining table for four, with a three-seat divan opposite. The two- turbofan engine plane has a cruising speed of mach 0.82 (850 km/h), a maximum altitude of 40,000 feet and a maximum range of 6,300 kilometers.

Leviev has reportedly already bought a bigger plane. It is possible that his longtime friend, Roman Abramovich, helped choose the new model. In an interview with "Globes" three months ago, he said that he consulted with Abramovich "only if I want to buy a new plane or a football team."

Lanir's fortune is estimated at $200 million. He founded online gambling company Empire Online Ltd. (AIM: EOL), but his primary current interest is Livermore, which is based in Zurich, and he may have bought Leviev's plane for the commute from Israel. He also owns a $10 million yacht, which is anchored at the Herzliya Marina. Lanir is reportedly planning to replace this yacht with an even bigger one.

Published by Globes [online], Israel business news - www.globes-online.com - on December 27, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007