Bronfman Fisher to buy Comtrans

In a related move, the audit committee of Comtrans' board approved the sale of the company's quarrying business to the current controlling shareholders, rendering the company into a stock market shell.

By MATTHEW KRIEGER
September 11, 2007 07:55

 
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 uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • 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

Bronfman Fisher Investments Ltd. will acquire 74-80 percent of Comtrans Engineering & Transportation Ltd. for an estimated NIS 26m. The final price will depend on Comtrans' cash reserves at the closing and the number of shares to be purchased, plus a control premium. In a related move, the audit committee of Comtrans' board approved the sale of the company's quarrying business to the current controlling shareholders, rendering the company into a stock market shell. When the sale of Comtrans is completed, Bronfman Fisher plan to use the shell corporation as a platform for industrial and marketing activity for the manufacture of candles, wet wipes, aluminum products and disposable cutlery.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS