Supermarket tycoon Rami Levy was set to become the new owner of Israir after his proposal to buy the airline was approved Tuesday by bondholders.
Levy made the proposal through BGI Investments, which he controls along with food mogul Shalom Haim. The offer received initial backing earlier this month from the trustee overseeing the sale of Israir on behalf of bondholders for IDB Development Corp., a holding company that a judge declared insolvent in September and ordered liquidated.
Under the proposal, BGI will pay NIS 162 million ($50.4 million) for a 51 percent stake in Israir. Levy, who will inject funds into the airline, will get a 24% stake and the bondholders 25%.
Read the full article at: https://www.timesofisrael.com/supermarket-mogul-poised-to-become-new-owner-of-israir-airlines/