Motorola to join Housing & Construction in offer for Feuchtwanger, if it bids

Housing & Construction (TASE: HUCN) is not giving up on buying Feuchtwanger Industries. Yesterday the company contacted Motorola (NYSE:MOT) to discuss a joint bid for the troubled industrial group. Motorola is reportedly smiling on the idea, TheMarker has learned.

Motorola had been mentioned as a potential contender for Feuchtwanger Industries, but the company yesterday said it would not be filing a bid on its own.

At least five business groups are casting their hats at Feuchtwanger Industries.

Only two have filed their offers complete with bank guarantees with CPA Chen Bardichev, who is managing Feuchtwanger Industries while a 34-day court-ordered stay of proceedings remains in effect. The two are Urdan-Scope and a group of investors led by CPA Avi Toledano.

One of the latest groups to file bids is headed by Hagai Shalom, who took over Ha'Argaz Corporation together with Yitzhak Tshuva a year ago. A second is a group headed by Arie Nessim, the former CEO of Leumi & Co Investment House.

Urdan Industries (TASE: URDN) is seeking to acquire Feuchtwanger Industries through three companies: Scope Metal Trading (TASE: SCOP), Ytong (TASE: YPYP) and Polar Investments.

A fourth group is business Shlmo Schmeltzer, owner of New Kopel.

There is at least one other contender, whose identity is not known.

The structure of a potential purchase of Feuchtwanger Industries would apparently be an immediate NIS 20 million cash infusion, for a six-month option to buy the controlling stake.

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