Alexander Gaydamak, the son of Arcadi Gaydamak, has acquired the controlling interest in Global Brands SA (AIM:GBR). He bought 2.51 million shares, 52% of the company, for $5.63 million through Belvia SrL, a private company registered in Luxembourg.
The sellers are Dolce Holland BV (14.39%), Boaz Moldawsky (13.72%), Executive Chairman Yossi Moldawsky (13.72%), Etai Moldawsky (6.03%), CEO Dov Lachovitz (3.73%) and Beitar Investments BV (0.37%).
Global Brands owns the Domino's Pizza franchises in Switzerland, Liechtenstein, and Luxembourg. The company went public in September 2005, and has been one of the worst performing Israeli companies on London’s Alternative Investment Market (AIM) ever since, losing 75% of its value until today announcement.
Global Brands share rose 76% by ₤0.32 to ₤0.80 following the acquisition, giving a market cap of ₤3.86 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 27, 2007
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