Reuters: Global Markets: Argentina's Elstein to buy 9 percent of Israeli group IDB: report

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Argentina's Elstein to buy 9 percent of Israeli group IDB: report Sep 12th 2012, 16:06 JERUSALEM | Wed Sep 12, 2012 12:06pm EDT JERUSALEM (Reuters) - Argentinean businessman Eduardo Elstein is set to buy a 9 percent stake in debt-strapped Israeli conglomerate IDB Holding Corp (IDBH.TA), local financial media reported on Wednesday. The Calcalist daily said Elstein will buy the stake in Ganden Investments, the private company through which IDB Chairman Nochi Dankner controls IDB. Website TheMarker said the purchase would be at a 1 billion shekel ($253 million) value for all of Ganden. The Globes financial newspaper said that Elstein and a group of Latin American businessmen arrived in Israel last week and have been in advanced talks to buy Ganden. IDB was not immediately available to comment. The reports sent IDB's shares up 5.2 percent, while IDB unit Discount Investment Corp (DISI.TA) jumped 16 percent. IDB's bond prices jumped as much as 10 percent. Calcalist also said that BlackRock, the world's largest asset management fund, bought an unspecified amount of Discount shares during the day. IDB, which has been selling off its assets in recent months, earlier this month reported a huge second-quarter loss that raised concerns it may not be able to pay its debts and included a "going concern" warning in its quarterly results.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions