Stock Discount Investments (DSK) continues to rise today at a sharp rate and completes a two-day jump of about 40%. The value of the company soared to about NIS 945 million, after the court decided last Friday to issue the controlling shares in the IDB-Desk group From the hands of the businessman Eduardo Elstein, And appoint a trustee (Attorney Ofir Naor) and receivers.
Attorneys Alon Binyamini and Raanan Clear were appointed to the position of receivers of 70% of the shares of DKSH (which are pledged to IDB Series 14 bondholders to whom the company owes NIS 890 million). DB while 12% of DSK shares are not encumbered to bondholders.
Binyamini and Clear’s goal is, of course, to maximize the return for the bondholders, and according to the capital market’s response to the court’s decision, they have a high chance of succeeding and returning the holders all their money, or the vast majority. In the controlling shares in the public companies Properties and Building, Cellcom, Mehadrin, Elron, and in the investment house Epsilon.
In the last two days, a number of names of businessmen and real estate companies interested in acquiring the company have been published in the media. Acquire control over it.
“Globes” has learned that among those interested in DSK’s properties is also the real estate company Collector Group Controlled by a high-tech entrepreneur Roni Tzarom. Aspen is engaged in the purchase, rental and management of income-producing real estate in Israel and abroad. The company has income-producing assets mainly in the manufacturing and logistics, offices, high-tech and commercial industries.
DSKS’s main asset, which could be suitable for a collector’s activity, is the holding of approximately 74% of the shares in Properties and Building, whose current value on the stock exchange is approximately NIS 1.1 billion. The shares of Mehadrin (44.5%), which is worth about NIS 470 million on the stock exchange, may also interest Aspen.
The obvious direction for Aspen (as well as for other interested parties in DCS) is to acquire control of the holding company, as this is a much more lucrative deal given the discount at which it is traded compared to the value of its holdings.
Examining the introduction of a separate partner or legal entity
You Collector Group The director of Scout Harel and its chairman is Guy Poppy. The company is traded on the stock exchange at a value of NIS 310 million after a 34% drop in the share last year, while its equity stands at NIS 640 million. After completing a number of large transactions recently, the fund has The company has cash of more than NIS 500 million.
Aspen started checking and analyzing DSK a few weeks ago, and in recent days has increased the pace of preparation for a deal. Similar to the contestants The others on the acquisition of DSKS, also in Aspen are examining various options to resolve the barrier of centralization law. The company may include a private partner in the transaction, which will allow it to circumvent the restrictions of the control pyramid.
As mentioned, the traders in the capital market enthusiastically accepted the court’s decision to take DSK out of Elstein’s hands. The controlling shares in DSK will warm up in the coming weeks, and at the same time the company’s share may continue to climb.
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