IDB group is negotiating to sell control of American Israeli Paper Mills
The group is selling off its non-tech holdings, starting with paint and cleansers
The group is selling off its non-tech holdings, starting with paint and cleansers
The IDB group is negotiating to sell its controlling interest in American Israeli Paper Mills (AMEX:AIP), reports
Yedioth Ahronoth
.
IDB owns 51.6% of AIPM via
(33%) and
(18.6%).
The market value of AIPM, which also trades in Tel Aviv, is NIS 900 million.
DBPL Public Investments, which is owned by Michael Dorsman, owns 11.6% of the company's equity.
AIPM is Israel's leading paper manufacturer. Its 2000 revenues came to NIS 688 million and net profit came to NIS 78 million.
IDB has been selling its non-tech assets. It has sold its holdings in cleansers manufacturer
, paint manufacturer Tambour, Tel-Ad Jerusalem Studios - which is one of three companies operating Israel TV Channel 2, and Azorim Properties.
