www.bethelfinance.com
Nochi Dankner has put fashion chain Golf & Co. (TASE:GOLF) up for sale. Sources inform “Globes” that IDB Holding Corp. Ltd. (TASE:IDBH), which controls Golf through Clal Industries (62%), has been looking for a buyer for its stake in recent weeks.
One party with which initial talks have been held is textiles company Delta Galil Industries Ltd. (Pink Sheet: DELTY; TASE: DELT), controlled by Isaac Dabah, but it is believed that the gap between the two sides on price is preventing negotiations from making progress.
Golf currently has a market cap of NIS 580 million, after losing 25% of its value in the past year.
A spokesperson for Clal Industries stated today that no negotiations were taking place for the sale of Golf. Delta said there were no talks on buying the fashion company.
In recent months IDB has been acting intensively to raise cash to meet its liabilities in the coming years. Among other things, it has held talks recently on a sale of Clal Industries, first with the Livnat family, and later with the Viola group.
It appears that, following the failure of these negotiations, it has been decided to sell part of Clal Industries’ assets. Thus, the company recently reached agreement on the sale of Mashav, which controls cement monopoly Nesher, to the Livnat family for NIS 1.3 billion, and it is now examining possibilities for the sale of Golf, one of the five largest fashion groups in Israel, with 267 stores in all.
No comments:
Post a Comment