Eduardo Elsztain has significantly raised his bid for Discount Investment Corporation (TASE: DISI). He has now made a binding offer of NIS 1.028 billion for a 70.14% stake in Discount Investment and he has also committed to buy Discount Investment shares and Israir for NIS 175 million as well as another NIS 70 million for the liquidation coffers. RELATED ARTICLES Elsztain matches Mega Or's bid for Discount Investment Eduardo Elsztain: They set me a trap to steal IDB Mega Or raises Discount Investment offer The offer is considerably higher than his previous bid of NIS 1 billion for 70% of Discount Investment and now reflects a valuation of NIS 1.468 billion for the company. The latest offer includes a put option to buy 12.12% of Discount Investment for NIS 85 million and a put option to buy IDB Tourism (Israir) shares for NIS 90 million. Thus Elsztain is promising the IDB trustees a minimum of NIS 175 million for Israir and 12% of the Discount Investment shares, which are on lien. The offer includes major securities in cash and lien on Discount Investment shares worth 15% of the offer. The ball is now back in the court of the investors headed by Mega Or, who will now have to consider whether to raise their offer of NIS 950 million to exceed Elsztain's bid. Published by Globes, Israel business news - en.globes.co.il - on November 4, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020
