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Will a Yeshiva student purchase El Al? | Israel today

2020-07-12T23:27:02.903Z


| TourismThe ultra-Orthodox young man acts on behalf of his father who does not hold Israeli citizenship • Also a former senior security industry official Will you pass into the hands of a sitting student from Jerusalem? Photo:  AFP This morning, it was reported that an ultra-Orthodox student in his 20s is the one behind El Al's acquisition. That young man is the son of an American Jew who does not ho...


The ultra-Orthodox young man acts on behalf of his father who does not hold Israeli citizenship • Also a former senior security industry official

  • Will you pass into the hands of a sitting student from Jerusalem?

    Photo: 

    AFP

This morning, it was reported that an ultra-Orthodox student in his 20s is the one behind El Al's acquisition. That young man is the son of an American Jew who does not hold Israeli citizenship, which is a mandatory condition for the purchase of the Israeli airline. Close associates report that this is a deal that is far from being carried out due to quite a few difficulties, "The chance of such a thing happening is low, but I wish we would like to see the company recover and fast," it said.

The youngest is Eli Rosenberg from Jerusalem, and as mentioned, apparently acts on behalf of his father Naftali Rosenberg. Anyone still involved in the deal is a former senior in one of the security industries in Israel and is likely to be loyal on his behalf if the deal is executed, which right now seems far off.

The Borovich family, which currently owns 38% of the company, is in no hurry to sell it and give up control of it. At present, the entire acquisition of the company by the ultra-Orthodox young man who lives in Jerusalem is in initial stages and the loan that is expected to take the company alongside the issue of shares is expected to be made in the coming weeks.

Remember, El Al will receive a $ 250 million loan on a 75% state guarantee. An additional $ 150 million will be issued and if the public does not purchase the shares, the state will acquire and control El Al. A state trustee will be the one to control the actual company and the state is expected to sell its shares after a predetermined amount of time in order to monetize the transaction.

Source: israelhayom

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