Accord signed over 52% controlling stake in IDB Holding Corporation - TheStreet

An agreement was signed Wednesday night over the acquisition of a 52% controlling interest in IDB Holding Corporation, according to a source near the negotiations.

The buyers are the Ganden Corporation, controlled by businessman Nochi Dankner; the Ta'avura haulage group, controlled by Avraham (Bondi) Livnat; and businessman Yitzhak Manor.

The buyers are paying according to a company value of NIS 1045 billion for IDB Holding Corporation.

Ganden will be receiving 60% of the 52% stake. Ta'avura and Manor will each be receiving 20%. The buyers are now expected to reach a credit arrangement with the banks.