Discount InvestmentsUnder the control of Eduardo Elstein is expected to decide this week on a dividend of NIS 120-80 million.
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This is a small part of the consideration received by the company for the sale of 26% of Shufersal shares. DSK sold the shares last week to a number of institutional entities for about NIS 1.45 billion.
Elstein’s dolphin company holds 82% of the shares of DKSH, of which 68% is pledged to holders of IDB’s 14 series of open bonds. Therefore, the dividend, if distributed, will be pledged for the most part to them. , And the rest 18% will be received by the public.
Elstein is in talks to settle a debt with the holders of three series of bonds at IDB Open, for a debt totaling NIS 2 billion. It offers an infusion of NIS 300 million as part of the arrangement. The debt to the holders of the 14th series is NIS 880 million. Holders of Tu bonds owe IDB Open NIS 237 million, and they hold a lien on Clal Insurance shares worth NIS 163 million. For holders of Series I, the company owes NIS 745 million but has no collateral at all.