Bidding War for Arkia Intensifies as New Group Enters Talks
Translated & summarized from TheMarker by baba
A new group, led by Gil Demti and Shmulik Sosna, met with Arkia airline officials on Sunday to advance a potential acquisition deal. The negotiations, which have been ongoing for months, are estimated to be worth $30 to $40 million. This comes after reports of talks with Israir and an attempt by the workers' committee to buy the company.
The story in 4 lines · by baba
- A new group led by Gil Demti and Shmulik Sosna met with Arkia airline officials on Sunday.
- The potential deal for Arkia is estimated to be worth between $30 and $40 million.
- Negotiations between the Demti-Sosna group and Arkia have been ongoing discreetly for months.
- Previous reports indicated talks with Israir and an attempt by the workers' committee to purchase Arkia.
The battle for control of the Israeli airline Arkia is nearing its conclusion, with a new group led by Gil Demti, CEO of the National Group of the National Union, and Shmulik Sosna, owner of the logistics and distribution company Sosna Moving, meeting with company officials on Sunday. The group, which also includes other business figures, visited Arkia's offices and presented their offer to CFO Ran Cohen. Negotiations between Demti and Sosna and Arkia have been ongoing discreetly for several months. Industry estimates suggest that offers for Arkia are in the range of $30 to $40 million. This development follows previous reports of talks with Israir and an attempt by the Israel Airports Authority workers' committee to acquire the airline.
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