Deal between Chaim Katzman and Tzahi Abu collapses one month after signing
Over the past two weeks, the relationship between businessman Tzahi Abu and the company's controlling shareholder Chaim Katzman has hit a dead end.
The deal for the sale of control in the income-producing real estate company G City to Ari Nadlan and Ishpro has collapsed just one month after it was signed. This follows a breakdown in the relationship between the buyers and the company's controlling shareholder, Chaim Katzman, over the last two weeks.
The collapse was triggered by an agreement signed by Tzahi Abu to bring in Yaron Adiv and Kidan Dahari as additional investors without Katzman's knowledge.
The deal had been signed last month, with Ari Nadlan, controlled by businessman Tzahi Abu, agreeing to acquire a 26% stake in G City from Chaim Katzman's Norstar for 661 million shekels, based on a valuation of 2.55 billion shekels. Two weeks later, Abu added the income-producing real estate firm Ishpro, owned by Kidan Dahari and Yaron Adiv, to the transaction.
More details to follow.
