David Netzer has been appointed CEO of Azorim Investment, Development and Construction Ltd. (TASE: AZRM), controlled by chairman Shaya Boymelgreen.
Netzer has a BA in Law from Tel Aviv University and an MBA from INSEAD in Paris. He has 14 years experience in real estate, including six years at a Deutsche Bank AG (NYSE: DB; XETRA: DTEG) international real estate fund, four years as real estate manager in Western Europe and Canada for Benny Steinmetz, and four years as an independent real estate manager in Europe.
Azorim has been run for the past five months by acting CEO Yaakov Siso, who has navigated the troubled company through hard times, and was even able to initiate new projects.
In a separate development, Azorim unit Engel Europe Ltd. (TASE: ENGR1 ,ENGR5), held through Lagna Holdings Ltd. (TASE;LGNA) today published a tender to find an investor, after its own efforts were to no avail. Until now, investors interested in Lagna preferred to invest directly in Engel Europe subsidiary Engel Resources and Development Ltd. (TASE:ENRS), which operate in Eastern Europe.
Four parties are currently in talks to invest in Lagna subsidiaries, but are demanding a debt settlement as a condition for the investment. The deadline for bids is December 10.
Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2009
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