Kobi Yeshayahou
Bank Leumi acquired the shares in Israel's fifth largest gas station chain when Eliezer Fishman went bankrupt.
Apax Partners has acquired an 83% controlling interest in Ten Petroleum Company Ltd. (TASE: TNPT.B1), Israel's fifth largest chain of gas stations, from Bank Hapoalim (TASE: POLI) for NIS 137 million, reflecting a NIS 166 million value for the company.
Businessman Eliezer Fishman owned Ten for many years. Following the deterioration of his business situation over the past two years, his controlling interest in the chain passed to Bank Hapoalim, which tried unsuccessfully to sell it. Three and a half months ago, Advocates Pinhas Rubin and Yaron Elhawi from the Gornitzky & Co. law firm were appointed as receivers for Fishman's shares at the request of the creditor banks. Since then, the process of selling the company has been expedited. In addition to Apax, the Sky fund and Shapir Civil and Marine Engineering Ltd. were also mentioned as showing interest in buying the company.
