Greenstone bids for 20% of Samsung Israel - Israel Business, Ynetnews

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Businessman Ilan Ben-Dov Photo: Tzvika Tishler
Businessman Ilan Ben-Dov Photo: Tzvika Tishler
Prof. Dan David Photo: AFP
Prof. Dan David Photo: AFP

Greenstone bids for 20% of Samsung Israel

Company controlled by late Prof. Dan David's benefactors to shell out NIS 200 million for 20% of Samsung Israel, Calcalist learns, thereby partnering with Scailex in imports of mobile giant's devices

Golan Hazani, Calcalist
Published: 11.23.11, 15:09 / Israel Business

Greenstone controlled by the David family confirmed Calcalist's report from Wednesday morning that the benefactors of late professor Dan David are negotiating over the acquisition of a 20% stake in Samsung Israel's activity from businessman Ilan Ben-Dov's Scailex.


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If concluded, the two companies will form a partnership in Scailex's cellular activity – the import of Samsung cellular devices – with a value of NIS 1 million ($270,000) for Samsung with Greenstone paying NIS 200 million ($53 million) for the stock.


According to accountancy firm Fahn Kanne's valuation of Samsung Israel, issued on November, the company's activity leapt from NIS 404 million ($108 million) in the report issued at end of 2010 to NIS 811 million ($217 million) in the current valuation.


Professor Dan David died two months ago, leaving his stock in the publically traded Leader Holdings and Investment to his wife Gabby and son Ariel. Leader holds Greenstone's controlling stake.


If the deal is signed, it will be the first deal to have been made on behalf of the company by late Dan David's representative, Tzahi Apeloig.


Click here to read this report in Hebrew



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