Bethel Finance news:
Nochi Dankner has agreed to a debt settlement for Ma'ariv Holdings Ltd. (TASE: MARV-M), the owner of Hebrew daily "Ma'ariv". Discount Investment Corporation (TASE: DISI), through which Dankner controls Ma'ariv, signed a special agreement with Ma'ariv's creditor, Bank Hapoalim (TASE: POLI) for debt settlement on Sunday.
According to Discount Investment's notice to the TASE, Ma'ariv owes Bank Hapoalim NIS 106 million. Discount Investment will pay the bank NIS 42 million, plus interest, when the company closes its investment in Ma'ariv, and the bank will clear all of Ma'ariv's debt to it.
Ma'ariv's shareholders have to approve the settlement before the investment agreement is closed by August 22.
Discount Investment also signed an agreement with Ma'ariv's trustees to buy two million shares (1.8% of the company) for $2 million. The company also promised the bank that it would try to buy Vladimir Gusinski's 4.2% stake in Ma'ariv - 4.7 million shares, which are held by trustees - for $6 million..
The settlement between Discount Investment and Bank Hapoalim is a condition for Dankner to invest in Ma'ariv.
Trading in Ma'ariv's share was suspended at NIS 3.59, giving a market cap of INS 130 million, and will resume at 11:00.
No comments:
Post a Comment