Hershy Friedman Of Agri-Star Takes Over Shaya Boymelgreen’s Shares In Azorim

Canadian Jewish property developer Hershy Friedman has rescued Mizrahi Tefahot Bank  from the Azorim Investment, Development and Construction Ltd.  swamp. Friedman will buy Shaya Boymelgreen’s 63.8% stake in the real estate company for NIS 300 million, which gives Azorim a valuation of NIS 470 million. Azorim’s current market cap is NIS 517 million.

Friedman is to pay NIS 100 million cash immediately, and the remaining NIS 200 million at the closing in a few months’ time. Former Sonol Israel Ltd CEO Tamir Poliker, who has advised Friedman in recent months on the Azorim deal, will become Azorim’s CEO.

Read More: @ theyeshivaworld.com

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