Azrieli Group sells Tambor to Kusto Singapore for NIS 500 million

By YEHUDA SHARONI
May 26, 2014 21:36

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Israel's Azrieli Group has completed the sale of paint manufacturer Tambor to Singapore's Kusto for a sum of NIS 500 million, it was announced Monday.

Hacarmel Granite, who carried out the sale under Azrieli, will earn NIS 60 million on the deal.

Kusto has already paid an advance of NIS 70 million to Hacarmel Granite to secure the deal.

Kusto is a construction company based in Singapore which employs more than 10,000 employees and records some $1.4 billion dollars in annual sales.

Related Content

Breaking news
August 18, 2018
Ukraine, Iran and human rights on agenda for talks with Putin - Merkel

By REUTERS