Akirov to sell NIS 400 million worth of assets
Alrov holdings firm to sell properties in Israel in order to carry out acquisitions of assets in Western Europe, ahead of planned IPO on London Stock Exchange
Businessman Alfred Akirov will put up for sale a long list of properties in Israel, estimated to be worth more than NIS 400 million ($100 million).
The Alrov holdings company, owned by Akirov, plans to purchase properties in Western Europe and double the value of its assets before going public on the London Stock Exchange.
The properties Akirov intends to sell in Israel include the Opera Tower in Tel Aviv, the Top Center shopping complex in Ashdod, an office floor on Ahad Ha'am Street in Tel Aviv, the Europe House in Tel Aviv, and an elderly citizens' home in Netanya.
Akirov has already sold some of his property in Israel in recent months. The Sharon Mall in Netanya was sold to two Israeli businessmen for NIS 344 million ($ 86 million); the Mamila upscale residential project in Jerusalem was sold to American firm Number for $80 million; and the Sotheby's House in Tel Aviv was sold to Canadian billionaire Jerry Schwartz for NIS 34 ($8.6 million).
Akirov recently failed in his attempt to buy a palace located near the Arc de Triomphe in Paris for $450 million, but he plans to purchase assets on a similar scale in the coming months.
