Author Topic: EL AL  (Read 191452 times)

Offline yaakov35

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Re: EL AL
« Reply #1120 on: September 13, 2020, 06:05:23 PM »
Are you sure?
I had in mind that besides de 747 Cargo mentioned above, (and I have a feeling it's leased) the rest of the fleet had been grounded and all pilots put on unpaid leave
Ly 33 bibis plane is a regular elal 777.

Offline chff

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Re: EL AL
« Reply #1121 on: September 13, 2020, 09:14:14 PM »
Ly 33 bibis plane is a regular elal 777.
As always

Offline tavster

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Re: EL AL
« Reply #1122 on: September 15, 2020, 09:09:13 AM »
Wake me up when an agreement is reached.
@Dan by tomorrow evening we should know who the new owner is. Then LY gets the State to guarantee the loans, and we're 'back in business'

https://en.globes.co.il/en/article-el-al-tase-150m-offering-to-go-ahead-tomorrow-1001342840

Offline ExGingi

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Re: EL AL
« Reply #1123 on: September 15, 2020, 09:17:29 AM »
@Dan by tomorrow evening we should know who the new owner is. Then LY gets the State to guarantee the loans, and we're 'back in business'

https://en.globes.co.il/en/article-el-al-tase-150m-offering-to-go-ahead-tomorrow-1001342840

It ain't over 'till it's over.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Shauly101

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Re: EL AL
« Reply #1124 on: September 15, 2020, 10:16:20 AM »
if its public how does it work?

who gets to grab first? Rozenberg or Saphir?

Offline tavster

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Re: EL AL
« Reply #1125 on: September 15, 2020, 12:42:02 PM »
if its public how does it work?

who gets to grab first? Rozenberg or Saphir?
There is a bidding process, whereby whoever bids for the larger amount of shares gets them.

According to the press rosenberg is happy to buy $100m worth of shares through the offering.

I don't believe Sapir was interested in taking part, as they wanted a private placement, which will not take place. That's also why Gurvitz said he won't take part in the bidding process. So it sounds like it's going to Rozenberg. But who knows

Offline tavster

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Re: EL AL
« Reply #1126 on: September 16, 2020, 01:06:07 PM »

Offline jose34

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Re: EL AL
« Reply #1127 on: September 16, 2020, 01:13:54 PM »
Wait... he did not actually buy it yet.

Offline tavster

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Re: EL AL
« Reply #1128 on: September 16, 2020, 01:15:20 PM »
Wait... he did not actually buy it yet.
Before posting I've been trying to think what could go wrong from here. Can't think of anything  ::)

Offline Shauly101

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Re: EL AL
« Reply #1129 on: September 16, 2020, 01:26:48 PM »
Wait... he did not actually buy it yet.

meaning?  who has to approve his bid?

Offline tavster

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Re: EL AL
« Reply #1130 on: September 16, 2020, 01:28:34 PM »
meaning?  who has to approve his bid?
No one. But we don't have the official results yet.

 The press just knows that the other 2 contenders said they wouldn't bid. Doesn't actually mean that someone else didn't bid

Offline tavster

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Re: EL AL
« Reply #1131 on: September 16, 2020, 01:37:25 PM »
LY just announced that the offering was oversubscribed, with the full ILS 505 million having been raised.
The list of owners will be disclosed separately

Offline Shauly101

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Re: EL AL
« Reply #1132 on: September 16, 2020, 01:42:04 PM »
LY just announced that the offering was oversubscribed, with the full ILS 505 million having been raised.
The list of owners will be disclosed separately


link? Source?

Offline CRACKERJACK

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Re: EL AL
« Reply #1133 on: September 16, 2020, 01:47:21 PM »
for those not following the back and forth can we have the the whole story in short?
if its to much for you @tavster maybe @Dan can put it in the new years news roundup!?

Offline tavster

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Re: EL AL
« Reply #1134 on: September 16, 2020, 01:47:49 PM »

link? Source?
That's the list of new owners: doesn't help since the major shareholder holds them through bank hapoalim

https://mayafiles.tase.co.il/rpdf/1321001-1322000/P1321567-00.pdf

And these are the results of the capital raise:

https://mayafiles.tase.co.il/rpdf/1321001-1322000/P1321566-00.pdf

Offline tavster

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Re: EL AL
« Reply #1135 on: September 16, 2020, 01:52:24 PM »
for those not following the back and forth can we have the the whole story in short?
if its to much for you @tavster maybe @Dan can put it in the new years news roundup!?
Long story short, we don't know yet who the new owner is.

We just know that LY has managed to raise the full amount they were looking for

Since Rosenberg's name doesn't show up on the registrar, as it seems that the shares are held through a bank, I believe we will have to wait for an announcement from Rozenberg himself, or whoever bought the shares.
« Last Edit: September 16, 2020, 01:59:37 PM by tavster »

Offline tavster

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Re: EL AL
« Reply #1136 on: September 16, 2020, 01:59:11 PM »
Rosenberg confirmed as new controlling shareholder according to Globes

https://www.globes.co.il/news/article.aspx?did=1001343029

Offline jose34

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Re: EL AL
« Reply #1137 on: September 16, 2020, 03:01:53 PM »
So now practical , how does this change things?

Offline CRACKERJACK

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Re: EL AL
« Reply #1138 on: September 16, 2020, 03:03:25 PM »
So now practical , how does this change things?
Wait and see?!

Offline tavster

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Re: EL AL
« Reply #1139 on: September 16, 2020, 03:05:06 PM »
So now practical , how does this change things?
Practically they can call for a board meeting, appoint new directors, new management, new strategy etc...