This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RRSat Global Communications Announces That Private Equity Firm Entered Agreements To Acquire 20% Stake In The Company

AIRPORT CITY BUSINESS PARK, Israel, April 23, 2013 /PRNewswire/ --

R R sat  G lo b al  C o m m un ica t io n s  N e t w o r k Ltd. ( N ASDAQ: R R S T), a leading provider of comprehensive digital content management and global distribution services to the television and radio broadcasting industries, announced today that Viola Group, a leading innovative private equity investment group focused on technology based growth opportunities in Israel withclose to$2 billion under management, entered into agreements with two of RRsat's principal shareholders to acquire approximately 20% of RRsat's outstanding shares for a price per share of approximately $8.

On April 4, 2013, Viola Group entered into a series of agreements to acquire approximately 13% of RRsat's shares from Kardan Communications Ltd. and approximately 7% of RRsat's shares from David Rivel, RRsat's founder, director and former Chief Executive Officer. Following the consummation of the transactions, Kardan will continue to own approximately 11% of RRsat's shares and David Rivel will continue to own approximately 5% of RRsat's shares. RRsat is not a party to the agreements and is not issuing Viola Group any new shares in the transactions.

In connection with the transactions, Viola Group has also entered into shareholders agreements with each of Kardan, David Rivel and Del-Ta Engineering Equipment Ltd., the holder of approximately 39% of RRsat's shares.  

Consummation of each of the transactions is subject to various conditions precedent, including regulatory approvals.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs