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Full coverage· Economy· Updated

Israeli Businessman Amos Luzon Buys Troubled US Firm for Bargain Price

Israeli businessman Amos Luzon has acquired the financially troubled US firm Kohan Properties for under 20 million shekels. The company's founder, Mike Kohan, allegedly misused company funds, leading to its takeover by lender Natanel Lorenz.

2 newsrooms · 1 language · since

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What happened

  1. 01Amos Luzon acquired US firm Kohan Properties for less than 20 million shekels.
  2. 02Kohan Properties faced financial issues due to founder Mike Kohan's alleged misuse of funds.
  3. 03Natanel Lorenz had taken control of Kohan Properties after providing a loan secured by its shares.
  4. 04Luzon aims to establish a US commercial real estate arm with this acquisition.
  5. 05The deal is compared to Luzon's successful turnaround of A. Dori Group in 2016.

Luzon, who previously succeeded with a similar distressed asset acquisition in Israel, aims to establish a US commercial real estate presence with this purchase.

Translated and summarized by baba from Globes, the latest report. Read Globes’s original

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