The agreement heralds the end of the over a decade long inheritance battle between the brothers Liora and Doron Ofer (illustration) (Photo: ShutterStock)
The agreement heralding the end of the over a decade long inheritance battle between the brothers Liora and Doron Ofer - also brings to an end the partnership between the two.
Ofer Investments is updating this morning (Sunday) on the signing and completion of the agreement between the shareholders in Ofer Investments, according to which Leora Ofer purchased from the control of her brother, Doron Ofer, all of his holdings in Ofer Investments.
Following the completion of the deal, Liora will hold all the share capital and voting rights (100%) of Ofer Investments, which, as we know, is the controlling owner of the public malls company Melisron.
In exchange for about 16% of the shares of Ofer Investments that he had, Doron will receive a value of about 450 million shekels and about 4% of the shares of Lisron.
Liora Ofer, chairman of Ofer Investments (Photo: Vardi Kahana)
As you may remember, on September 11, 2011, businessman Yuli Ofer passed away.
After his death, a family inheritance struggle began, which was gradually joined by his two children Liora and Doron.
The long succession struggle between the brothers comes to an end today, as mentioned, when Liora will have sole control of Melisron and will exclusively own Ofer Investments, which is considered one of the largest holding companies in Israel.
Liora Ofer, chairman of Ofer Investments:
"The family investment company founded by Yuli Avi has grown over the years in many directions.
Our decision will allow each of us to develop our family businesses with our own children.
I thank Doron, my brother, for the good spirit in the business separation process, and I wish him and my nephew that they will see a blessing and succeed.
I am also very grateful to the company's managers and employees.
I expect and believe that in the coming years we will continue to bring about the prosperity and development of Ofer Investments and its subsidiaries."
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