Brown Motels asks court docket to approve sale to Israel Canada
Within the court docket request Brown Motels mentioned that Israel Canada has dedicated to shop for the industry operations of 8 of its resorts and its logo.
Brown Motels has filed a request to the court docket to approve its sale to Israel Canada (TASE: ISCN). Within the request Brown Motels mentioned that Israel Canada has dedicated to shop for the industry operations of 8 of its resorts and its logo.
In September, Israel Canada, managed by way of Barak Rosen and Asi Touchmair signed two non-binding memorandums of working out (MoUs) to procure the actions of Brown Motels in Israel and Greece. On the similar time talks had been held to merge Israel Canada’s lodge actions into the DNA Crew inventory marketplace shell, which may be managed by way of Rosen and Touchmair.
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Israel Canada Motels, wherein Israel Canada has a 68% stake, signed the MoUs to shop for the Brown logo from Nir Waizman, Leon Avigad, Nitzan Perry and Hachshara Insurance coverage.
Within the first of the MoUs, Israel Canada Motels agreed to shop for Brown Motels actions in Greece for no fee and take at the hire agreements for 8 resorts in Israel with 1,067 rooms.
Revealed by way of Globes, Israel industry information – en.globes.co.il – on December 16, 2024
© Copyright of Globes Writer Itonut (1983) Ltd., 2024
Theodor by way of Brown Motels credit score: Assaf Pinchuk
Nitsan Shafir and Yuval Nisani
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