Live Update
From the Liveblog of
Sunday, July 2, 2017
El Al to acquire competitor Israir
El Al Airlines says its board of directors has approved the merger of Israir with the flagship carrier’s charter subsidiary Sun D’or.
Under the deal, IDB Development will sell all of Israir’s shares to Sun d’Or for $24 million in cash and a 25% stake in the subsidiary.
The merger is subject to the approval of Israel Antitrust Authority director general Michal Halperin.
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