Global Automax, which is currently considered the largest parallel car importer in Israel, may merge into the digital advertising services company Tommy Media Group, which is traded on the Tel Aviv Stock Exchange, reports Tommy.
Read more in Calcalist:
In this context, a memorandum of understanding was signed in which the owners of Otomax will hold 53% to 73% of the shares in Tommy, subject to raising capital and meeting the targets, while Tommy will hold 100% of the shares in Otomax. The memorandum of understanding on this subject is signed and subject to a period of two months.
Global Automax currently imports a number of car brands in Israel in parallel imports, ie not through the veteran car importers. These include Hyundai, Volkswagen, Toyota, Jeep and other brands, as revealed in “Calcalist”.
The company is also in talks to import cars by direct import, ie by purchasing directly from the car manufacturer.
It should be noted that last May, the Tax Authority announced to a number of senior executives in the parallel import industry, including Yinon Amit, one of the owners of Global Automax, that they will be prosecuted subject to a hearing on a number of charges, including VAT and Purchase Tax Offenses. money laundering And false registration offenses in corporation documents.
In addition, the Tax Authority informed Haim Levy Trade Inn, Global Automax Ltd. and the owners and managers of these companies – Daniel Levy and Haim Levy – that their prosecution is being considered subject to a hearing.
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