El Al gets $51m offer from David Sapir for joint control of airline
El Al made history this week when a flight carrying US and Israeli delegations to the UAE entered Saudi Arabian airspace
02 September 2020 - 13:11
Jerusalem — Israeli-Russian businessperson David Sapir has offered to buy joint control of financially strapped El Al Israel Airlines, promising to use his business ties to return Israel's flag carrier to profitability.
Sapir, whose businesses include infrastructure, telecoms and tourism, has offered to pay $51m for 190-million new shares in El Al, which is the same number of shares held by controlling shareholder Knafaim Holdings, and a 20% premium to El Al's closing share price on Tuesday in Tel Aviv...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.