Arison Holdings now owns 57% of Housing and Construction.
Shari Arison has completed her takeover of Housing and Construction Holding Co. Ltd. (Shikun u'Binui) (TASE: HUCN) for NIS 540 million. Arison Holdings Ltd. today closed a deal with Housing and Construction chairman Uzi Vardy-Zer and most of the company’s employees.
Arison Holdings will buy 87 million Housing and Construction shares, 21.86% of its issued share capital, at NIS 6.18 per share, plus linkage and interest according to an agreed upon mechanism. The price gives a 13% premium on Housing and Construction’s market price today.
Arison Holdings now owns 57% of Housing and Construction.
Published by Globes [online], Israel business news - www.globes.co.il - on February 21, 2007
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