Bidders for Dor Chemicals named

Businessman Meir Shamir and investment company Emilia Development hope to buy control.

By YIGAL GRAYEFF
December 16, 2005 01:23
1 minute read.

 
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Businessman Meir Shamir and investment company Emilia Development both said on Thursday that they hoped to buy control of Dor Chemicals from the Dankner Group. The two separate bidders confirmed their interest despite Dor disclosing on Wednesday that it was the subject of an investigation by the Israel Securities Authority. Dor didn't provide details of the investigation, while an ISA spokesman declined to comment. Rather than discouraging him from acquiring Dor, Shamir, who controls investment company Mivtach Shamir, told The Jerusalem Post that the investigation gave him more motivation to buy the company. "I like to do business with good companies that are in bad situations," he said. Emilia chairwoman Tami Gottlieb said in an interview that the company was looking to buy control of Dor but that it was too early to provide more specific details. Shamir said Paz Oil Company also wants to buy Dor, although a Paz spokeswoman said it hasn't made an offer for the company. Press reports said Paz controlling shareholder Zadik Bino, as opposed to Paz itself, was interested in Dor. In the first nine months of the year, Dor had a net profit of NIS 217.3m. on sales of NIS 241.4m. The company has a market capitalization of NIS 167 million. Shares closed up 4.3% at NIS 5.10 on Thursday.

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