The struggle for control of IDB Development Corp. (TASE: IDBD) is nearing its end with Eduardo Elsztain announcing this morning that he agrees to fully acquire the shares held by Moti Ben-Moshe. He has offered to buy the shares at NIS 1.64 per share for a total expenditure of NIS 152 million. However, Ben-Moshe is opposing the move even though Elsztain agreed to take on the full NIS 256 million commitment by Ben-Moshe to the debt settlement trustees of IDB Holding Corp. Ltd. (TASE:IDBH). However, Elsztain stressed that the agreement was dependent on the decision of the arbitrator mediating between them because the subjects does not apper in the control agreement. RELATED ARTICLES Elsztain seeks to delist IDB Development IDB bows to Elsztain ultimatum: Ben-Moshe ousted Elsztain to put NIS 250m into IDB if Ben-Moshe quits Elsztain: I'm sole IDB controlling shareholder Elsztain also agreed that Ben-Moshe will not have to go through a two year period in which he is prohibited from buying securities in IDB or any of its units. Published by Globes [online], Israel business news - www.globes-online.com - on June 10, 2015 © Copyright of Globes Publisher Itonut (1983) Ltd. 2015
