Globes: Dankner in talks with KKR about IDB loan
24 October 12 14:38–Capital market sources say that IDB Holding Corp. Ltd. (TASE:IDBH), controlled by chairman Nochi Dankner, is in talks with US private equity fund KKR & Co. LP (NYSE: KKR) about a loan to the company.
In a notice to the TASE, IDB Holding said that it was considering restructuring its holdings, including the possibility of merging IDB unit Discount Investment Corporation (TASE: DISI) with its subsidiary Koor Industries Ltd. (TASE:KOR), or turning Koor into a wholly-owned subsidiary of Discount Investment. Either of these options may be combined with the “obtaining of a loan from a foreign financial party. If this measure is carried out, Koor’s public shareholders will be offered to sell their shares in the company to Discount Investment and IDB Development Corporation. The acquisition or redemption of Koor and Discount Investment’s bonds is also under consideration, using Koor’s assets.”
IDB Development owns 13.3% of Koor directly, and owns 70.1% through Discount Investment, which owns 73.9% of Koor…Read More>>
