The Israel Land Development Company (Nasdaq:ILCDY) will be publishing a tender offer to buy back shares in its subsidiary ILD Hotels,

Ma'ariv

reports.

ILDC's management, under CEO Ron Weisberg, is examining the possibility of delisting the hotels group from trade in Tel Aviv after its sale to Due Holdings fell through.

As of Monday morning ILD Hotels is traded at a market cap of $9.4 million, a cool 80% below the value of the busted deal.

At this stage the final terms of the buy-back offer are not known.