Daniel and Michael Salkind will inherit their father's stake in the company.
The Elco Ltd. (TASE: ELCO) holding company today announced that the shares of controlling shareholder Gershon Salkind, who died last September, will be divided equally between Daniel and Michael Salkind, his sons, in accordance with his will. Gershon Salkind controlled the company through private company G. Salkind, and the shares to be divided among his sons are in this company.
Elco's activities are contracting and infrastructure, production and marketing of consumer products, and income-producing real estate. A decade ago, Daniel and Michael Salkind were appointed CEOs of the group, which includes Electra Ltd. (TASE: ELTR), Electra Real Estate Ltd. (TASE:ELCRE), and Electra Consumer Products (TASE: ELEK).
In the announcement, Elco stated that the Salkind brothers had signed a shareholders agreement designed to establish mechanisms for joint management of the company.
Published by Globes [online], Israel Business News - www.globes-online.com - on January 18, 2018
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Gershon Salkind Photo: PR