Airports Authority Workers Eye Arkia Acquisition After Rami Levy's Interest
Translated & summarized from Calcalist by baba
The Airports Authority Workers' Committee is exploring the purchase of controlling shares in Arkia airline from the Nakash brothers, following a similar interest from Israir owner Rami Levy. The committee plans to use NIS 4 billion in employee pension funds for the acquisition. The move requires committee member approval after reaching preliminary agreement on deal terms.
The story in 5 lines · by baba
- Airports Authority Workers' Committee is exploring buying controlling shares in Arkia airline.
- Rami Levy, owner of Israir, is also considering acquiring the competing airline.
- The committee plans to use NIS 4 billion in employee pension funds for the purchase.
- Pinchas Idan, a Likud member, leads the powerful Airports Authority Workers' Committee.
- The potential acquisition requires approval from a majority of the committee members.
Following the interest shown by Rami Levy, owner of Israir, in acquiring the struggling airline Arkia, the Airports Authority Workers' Committee has also announced it is exploring a potential purchase of the controlling shares in Arkia from the Nakash brothers. The workers' committee plans to fund the acquisition using an estimated NIS 4 billion in employee pension funds, aiming to improve their value. Committee representatives confirmed they are examining the possibility and will proceed only if convinced the deal will benefit the pension funds. They also intend to meet with the Nakash brothers to discuss the terms. The acquisition requires the approval of a majority of the committee members at a meeting that will only occur after preliminary agreement on the deal's details.
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