The trustees of three series of bonds announced last night that the majority of bondholders supported Saidoff's offer for the company.
Africa-Israel Investments Ltd. (TASE:AFIL) is set to fall into the hands of Naty Saidoff. The trustees of three series of bonds announced last night that the majority of bondholders supported Saidoff's offer for the company. In the wake of these results, the bonds trustees will wqork together with Saidoff and Africa-Israel's senior executives to submit a request to the court to approve the debt settlement based on clause 350 of the Companies Law.
The trustees said that a majority of bondholders in each one of the series preferred the debt settlement option including injecting investment into Africa-Israel by selling some of its assets. The bondholders also approved the clause calling on the trustees to work on completing the settlement with Saidoff according to the detailed arrangements passed onto the bondholders.
The trustees added that detailed results of the bondholders voting would be published later today.
Published by Globes [online], Israel business news - www.globes-online.com - on November 16, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017
Nati Saidoff Photo: PR