The bank has sold IDB shares worth NIS 1.6 million given as securities by Ganden, Dankner's private company.
IDB Holding Corp. Ltd. (TASE:IDBH) continues to lose ground and Mizrahi Tefahot Bank (TASE:MZTF), one of Nochi Dankner's creditors has got the message that he is about to lose control in the holding company. IDB reported this morning that over the past few days the bank has sold 489,000 shares for NIS 1.559 million. These were IDB shares held by Ganden Corporation, the private company through which Dankner controls IDB, which currently has a market cap of just NIS 130 million.
The notification to the TASE said that the shares were sold, "as part of the realization of securities that were given to the bank."
Dankner's debt to the bank is believed to be NIS 80 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 31, 2013
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