Businessman Rami Levy, owner of Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI) has become a party at interest in real estate holding company Norstar Holdings Inc. (TASE: NSTR), after buying a 5% stake. Levy bought 4,300 shares for NIS 48.90 per share yesterday and now has 1.74 million shares. Norstar is the controlling shareholder in income producing real estate company Gazit-Globe Ltd. (SNEEZE: GZT; TASE: GZT).
Chaim Katzman girds for battle over Norstar
Last week Norstar controlling shareholder Chaim Katzman signed a cooperation agreement with building contractor Yitzhak Sela, who holds a 5% stake in Norstar, which gives Katzman power of attorney to vote on behalf of his shares. Katzman is deputy chairman of Norstar and CEO of Gazit-Globe. Katzman himself has a 28.1% controlling stake in Norstar after selling some of his holdings to real estate company Israel Canada (TASE: ISCN), controlled by Assaf Tuchmeir and Barak Rosen.
Sources close to the matter say that Israel Canada is now in talks to sell its 22% stake to Amos Luzon, which could threaten Katzman’s control of the company.
Published by Globes, Israel business news – en.globes.co.il – on April 7, 2022.
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