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BRIEF-El Al announces acquisition of Israir
July 6, 2017 / 11:13 AM / 5 months ago

BRIEF-El Al announces acquisition of Israir

July 6 (Reuters) - El Al Israel Airlines Ltd

* El Al announced the acquisition of Israir

* El Al Israel Airlines Ltd - Board’s approval for acquisition of Israir Aviation and Tourism Ltd. through its subsidiary Sun D‘Or, from IDB Tourism

* El Al Israel Airlines Ltd - After completion of transaction, Israir will become a fully-owned subsidiary of Sun D‘Or

* El Al Israel Airlines Ltd - IDB Tourism will transfer to Sun D‘Or 100% of Israir shares in return for allotment of 25% of Sun D‘Or shares

* El Al Israel Airlines Ltd - transaction shall include injection of cash equal to Israir’s equity as of closing date and, will not exceed USD 24 million Source text for Eikon: Further company coverage:

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