Tshuva sells its share of Keshet at 50 m – the capital market

Yitzhak Tshuva, Photo: Bochecho

The controlling shareholder b


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, Yitzhak Tshuva, will sell his share (22%) of the holdings held by his daughter, Gal Naor, for NIS 40-50 million to a group of investors, including the insurance company


The Phoenix
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, The hotel chain


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, And the skyrocketing investment fund.

Teshuva has carried out a series of realizations in the past year in order to meet its personal debts to the banks and Delek Group’s debts to its bondholders. Among other things, it sold the real estate company Elad Israel, plots in the Bavli project, holdings in Cohen Pituach and more. Now, a donor of holdings in the communications market has arrived, from whom he wants an answer to get rid of, whether out of a need for liquidity or other business considerations.

The share of Teshuva Keshet was purchased from Bank Leumi about a decade ago for $ 6 million. At this point in time, the acquisition reflects Keshet’s record value of over NIS 220 million and Tshuva a profit of about $ 15 million. Along with the Phoenix and Fattal, Teshuva Keshet’s share will be acquired by Keren Rakia, headed by Ravid Kimia, former deputy CEO of Tadiran Holdings and previously a senior executive at Discount Capital and Migdal.

Even after the deal, Dudi Wertheim will still remain in control of the arc. Along with Channel 12 and its news company, the media group also owns the Mako website and the international arm of Keshet International, which develops and sells formats abroad (such as “The Next Star”) as well as its series (“Ramzor”, “Be With Her” and others).

Until recently, Keshet had contacts with the owners of Expon, businessman Hezi Bezalel, to purchase 40% of the latter and set up a platform for broadcasting over the Internet, similar to that of Partner and Cellcom, but in the end the deal did not materialize.

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