Arkia Workers Seek New Investor Amid Control Deal Concerns
Translated & summarized from TheMarker by baba
The Arkia Airlines employees' corporation is searching for a new investor due to concerns about a control deal. The workers' group, holding 22.14% of the company, fears share dilution and layoffs. They have a three-day deadline to match the new investor group's offer.
The story in 4 lines · by baba
- Arkia employees' corporation seeks alternative investor due to control deal concerns.
- Workers fear share dilution and potential layoffs from the new investor group.
- The employees' corporation holds a 22.14% stake in Arkia Airlines.
- Employees have a three-day deadline to match the new investor's offer.
The Arkia Airlines employees' corporation is actively seeking an alternative investor who will "embrace the employees," according to Avi Edri, Chairman of the Board of Directors of the corporation. This comes as the workers' group, which holds a 22.14% stake in the airline, expresses dissatisfaction with the new investor group announced on Thursday by the company's owners, the Nakash brothers (Joe, Rafi, and Avi).
The workers' corporation fears a dilution of their shareholding and potential layoffs, even after new funds are injected into Arkia. They assert their pre-emptive right to match the offer from the new investor group within three days, a deadline falling on Monday.
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