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Planes. El Al rejects offer to buy shares of Eli Rozenberg

In this financial operation he works on behalf of his father, who is not an Israeli citizen

His father is not an Israeli citizen and the acquisition of shares in the air carrier is not possible: this is the reason with which El Al decided to reject the offer for purchasing a substantial share of the same company by the young student Eli Rozenberg, evidently the parent's figurehead. In fact, the latter explained that he represents the father in this financial transaction precisely because the parent has no Israeli citizenship and cannot become a shareholder of a national company as required by the country's law. Airline needs liquidity, but this did not prevent the board of directors from writing directly to the Tel Aviv government to review the 27-year-old's offer; last week Rozenberg had agreed for 107 million dollars in shares of El Al to secure 43% of the carrier (see also the article published by AVIONEWS).

The student is an Israeli citizen and resides there, but the declaration in which he specified to act on behalf of the relative changed the cards on the table. His father is in fact Kenny Rozenberg, CEO of Centers Health Care, a chain of nursing homes based in New York, and in turn resident in the United States. As stated in the letter from the Israeli airline to the government, the presence of stars and stripes shareholding could cause problems with regards to voting rights. In coming days there should be new updates and for sure the final choice on the offer. A story that has a paradox, because it is a national law in this case that prevents the "rescue" of the country's reference company.

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AVIONEWS - World Aeronautical Press Agency