Tamares Group gains share in El Al

The deal gives Tamares an indirect stake in El Al Israel Airlines due to the Nuriel Group's 15.73% ownership of Knafaim Holdings Ltd., which owns 39.59% of El Al.

By AVI KRAWITZ
December 28, 2005 07:36
el al logo on plane tail 88

el al logo 88. (photo credit: )

 
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International private investment company Tamares Group, controlled by Poju Zabludowicz, said Tuesday it agreed to buy 50% of the Nuriel Group Ltd. from Avshalom Nuriel. The deal gives Tamares an indirect stake in El Al Israel Airlines due to the Nuriel Group's 15.73% ownership of Knafaim Holdings Ltd., which owns 39.59% of El Al. "We are confident the addition of our financial resources and global network will create greater opportunities to diversify and expand the investment activities of Nuriel Group," Zabludowicz said. The deal is expected to close on January 30.

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