(photo credit: Associated Press)
Eilat Port privatization under way • By AMIRAM BARKAT
The Government Companies
Authority on Monday began the prequalification stage of bidders in the tender
for the sale of the government’s stake in Eilat Port Company Ltd. This is the
first stage in the privatization of Israel’s seaports. The government plans to
sell its entire stake in the Eilat Port Company to a private franchisee for
about NIS 100 million. The franchisee will receive a license from the
transportation minister to operate the Eilat Port for 15 years, with an option
to extend for 10 years, subject to meeting container-traffic volume quotas at
the port during the first three years of the operating period.
Minister Yuval Steinitz said this was an important step toward implementing the
2005 ports reform. Government Companies Authority director Doron Cohen said the
privatization of the Eilat Port Company would help realize its cargo and tourism
potential. Since the beginning of the year, he said, 10,000 passengers have
passed through the port’s passenger terminal, which was opened last
year.Tel Aviv to get 65-story skyscrapers
• By AVI SHAULY
controlled by George Salkind, and Pangaea Real Estate Ltd., controlled by Barak
Rosen and Assaf Tuchmayer, are in talks to buy the Tnuva lot from Tnuva Food
Industries Ltd. in Tel Aviv for NIS 565 million. They plan to build three
65-story skyscrapers at an investment of NIS 2 billion for the project on the
site. The buildings will be Israel’s tallest buildings.
The Tnuva lot has
a net area of 13 dunams and a current building permit for 124,000 square meters
plus 2,500 parking spaces. A shopping center, similar to the nearby Azrieli
Center, will be built beneath the commercial and residential space. The lot was
previously used by Tnuva as a dairy. Electra and Pangaea plan to buy the lot in
equal shares. The parties have signed a no-shop agreement, which will be valid
through May 1, for which Electra and Pangaea paid a NIS 1m.
deposit.Average public CEO salary: NIS 236,000
• By TALI TSIPORI
average annual salary cost of a CEO of a public company is NIS 2.93 million,
according to the financial reports of 446 companies, or 70 percent of Israel’s
public companies. The average monthly salary cost is NIS 236,000, an annual
increase of 10.1% more in real terms.
The average monthly salary cost
rose by 7.4% in 2009.
The last time that CEOs’ salary cost had
double-digit growth was in 2004. The average salary cost of a CEO of a public
company has risen by 134% over the past 16 years.
In 1994, when public
companies first disclosed salary figures, the average annual salary cost of a
CEO was NIS 1.21 million, or NIS 101,000 per month.
The average annual
salary cost of a CEO of a Tel Aviv 100 company is NIS 6.85m., based on the
financial reports of 65 companies. The average monthly salary cost is NIS
571,000, an annual increase of 14.1% in real terms. The average salary cost has
risen 103% in real terms over the past eight years. The average annual salary
cost of a CEO of a Tel Aviv 25 company is NIS 11.97m., based on the financial
reports of 15 companies. The average monthly salary cost is NIS 998,000, an
annual increase of 29.6% in real terms.Boston Scientific to buy Israeli
• By GALI WEINREB and SHIRI HABIB-VALDHORN
The identity of the buyer of
SI Therapies has been revealed: US medical-devices giant Boston Scientific,
which in the past has acquired Israeli companies Remon Medical and Labcoat and
has invested in many Israeli biomed companies and funds. Aran Research
Development & Prototypes has published new details in its financials about
the agreement it signed to sell the subsidiary (55 percent): Boston Scientific
paid $5.13 million in cash, and the purchase price could reach $24.3m. if
certain milestones are reached.