Lev Leviev 88.
(photo credit: )
Avner Oil drops as license expires
The TA-25 Index was little changed on Sunday,
gaining less than 0.1 percent to 1,327.24 at the 4:30 p.m. close in Tel Aviv.
Investors traded about NIS 1.88 billion in shares and convertible securities.
The measure climbed 16% last year.
Africa-Israel Investments, Lev
Leviev’s holding company, rose 4.9% after saying it would pay off NIS 1.5b. of
debt after selling some of its assets.
Avner Oil Exploration-LP retreated
6.8%. The oil explorer and its partners Delek Drilling LP and Zerah Oil Gas
Exploration LP said Israel had decided to let the license to drill at site 321
expire. Delek Drilling declined 7.4%, and Zerah dropped 7.3%.
Biopharma, a biopharmaceutical company, advanced 3.2% after it received
royalties of $500,000 for 2011 from its Japanese partner, Seikagaku
Clal Biotechnology Industries increased 4.5% after its MediWound
and Polyheal units completed a collaboration agreement with Teva Pharmaceutical
Industries and received about $6 million. Teva declined 0.7%. Mayanot
Eden advanced 5%. The bottled-water company said its unit, Eden Springs
(Deutschland) GmbH, had completed the sale of its operations to Nestle Waters
Direct Deutschland GmbH. • Bloomberg Africa-Israel redeems bonds for NIS
.• Globes correspondent
Africa-Israel Investments Ltd., controlled
by chairman Lev Leviev, on Sunday announced its board of directors approved the
redemption in full of its Series 25 bond, amounting to NIS 1.08 billion. The
figure includes the principle, interest and accumulated linkage. The company
used the NIS 1.13b. in proceeds from the sale of its holdings in three
subsidiaries for NIS 1.35b. to finance the redemption.
Over the past 30
months, Africa-Israel has reduced its solo debt from NIS 10.2b. to NIS 3.4b., of
which it has already received NIS 1.13b. Africa-Israel sold its holding in
Africa-Israel Residences Ltd. to sister company Danya Cebus Ltd. for NIS 648
million, its 37.5 percent stake in Road 6 franchisee Derech Eretz Highways
(1997) Ltd. for NIS 502m. and half of its holding in Africa-Israel Hotels Ltd.
for NIS 180m.Ratio shareholder sells Leviathan shares
Landlan Investments Ltd., the largest shareholder in Leviathan
prospect partner Ratio Oil Exploration (1992) LP, has sold 27 million
partnership units in the company (0.4 percent) at NIS 0.5525 per unit for NIS 15
million. The sale reduced Landlan’s stake from 17.71% to 17.31%. Ratio owns 15%
Last Wednesday, the Leviathan partners announced that the
natural-gas reserves in the first target strata were 16 million trillion cubic
feet, confirming the results of a 3-D seismic survey conducted earlier in the
Ratio’s share price fell 5.8% to NIS 0.507 in morning trading on
the Tel Aviv Stock Exchange on Sunday, giving a market cap of NIS 3.67
billion.Azrieli Group to build mall in Ramle
• By OMER RABIN
Group Ltd. has bought the rights to a 31,650- square-meter lot zoned for a mall
in Ramle, part of the Gindi City project of Gindi Investments 1 Ltd. Azrieli
committed to invest NIS 100 million in building the 31,500-sq.- m. mall, which
will cost NIS 220m. to build.
Azrieli said it would close the deal in
three months, when it will pay Gindi Investments the first NIS 20m. and also pay
NIS 5m. in taxes.
Azrieli’s share price rose 2 percent to NIS 102 in
morning trading on the Tel Aviv Stock Exchange on Sunday, giving a market cap of
NIS 12.13 billion.