BREAKING NEWS

Bublil, Khakshouri end Club Hotels feud

By NADAV SHEMER

AUGUST 3, 2011 12:10

One of the longest-running feuds in Israeli business came to an end Monday, when the two partners in the Club Hotels Group, Moshe Bublil and Nissan Khakshouri, signed an agreement ending all lawsuits and claims between them.

Under the agreement, which was mediated by judge Theodor Or, Bublil will purchase all of Khakshouri's holdings in the group, while Khakshouri will receive holdings in one of the group's international subsidiaries. Club Hotels Group holds 50 percent of Club Hotel Lutracky in Greece, though the hotel makes up only some 15% of the group's activity.

Bublil said the two of them were "turning over a new page" with the agreement, while Khakshouri called it "the right step for the future of both our families."

Bublil added that he would now concentrate on investing in the Club Hotels Group, which he said had many more achievements to come, both in Israel and abroad.

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