The hurdle of a building for the acquisition of DKS: Forer’s...

Mivna Group, which is considering the acquisition of Discount Investments, intends – if the transaction does go ahead – to purchase all the company’s shares and delete it from trading. This is to facilitate its absorption in the group and bring the subsidiary of DSK, Properties and Building, closer to the public floor of a building. Calcalist has learned this.

However, a structure, managed by David Zabida, finds itself facing a significant problem, since the largest shareholder in a company operating without a controlling interest, David Forer (19.1% of the voting rights), is one of the controlling shareholders in Bezeq. Forer owns 3.15% of Bezeq through 12% of its parent company, Beecom.

Calcalist has also learned that the outgoing controlling shareholder in DSC, Eduardo Elstein, is expected to submit – perhaps even today – a counter-offer to Tzachi Nachmias and Mega Or’s offer to acquire control of DSC, through Dolphin 2020. In that case, Elstein will be required to provide a guarantee To an offer, which must be at least NIS 950 million, to equal Nachmias’ offer.

DSK controls Properties and Building, Elron and Cellcom, and its acquisition will require obtaining a control permit for Cellcom from the Ministry of Communications. However, this will not be able to grant a permit to a company in which the substantial shareholder is Bezeq. And that he does not have the ability to direct the corporation’s business moves, but it is doubtful whether the argument will be accepted, if only due to the fact that his son Tal Forer is the chairman of a building, and another son, Ran Forer, is a director at Bezeq.

A structure does not intend to hold control of Cellcom, but it will legally make it difficult for it to acquire DCS and then sell Cellcom, because this is a process that in any case requires regulatory approvals. The legal advisors of IDB’s various bond series, the controlling shares in DCS Are enslaved to them, trying to find a solution, because a structure is expected to submit a significantly higher bid than that of Tzachi Nachmias and Mega Or.

Dudu Zabida, David Forer Photos: Anar Green, Tomer Levy

In a report to the stock exchange yesterday, Mabana confirmed Calcalist’s exposure of the fact that it is considering the acquisition of DKSH. A structure has actually doubled in value, reaching a low point at the outbreak of the corona crisis.

Calcalist has also learned that car importer Rami Unger is not part of the group that Nahmias is forming to acquire DSKS. The public company Big is expected to be included in it, and like Mega Or will hold, if the deal goes through, 24.9% of DSKS shares.

Mega Or is the only company that has so far submitted a binding offer of NIS 950 million and a guarantee of NIS 95 million. The court allowed last Thursday to compare Mega Or’s offer until tomorrow, otherwise the agreement with it will enter into force, and bidders who wish to submit a higher bid will be forced to do so in steps of NIS 40 million.

Elstein will be able to run for re-acquisition of DSK until November 4. If he does not win, he is expected to be fired from the board of directors with his people at the DSK shareholders’ meeting, which will take place on November 6.