Teva cuts 2021 revenue guidance globes.co.il - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globes.co.il Daily Mail and Mail on Sunday newspapers.
After losing El Al, Knafaim buys 49.9% stake in TUS Airways
Knafaim will inject $5 million into the Cypriot airline while Eastern Airlines Kenneth Woolley will inject $4 million for a 50.1% stake.
After losing control of El Al Israel Airlines Ltd. (TASE: ELAL), Knafaim Holdings Ltd. (TASE: KNFM) has bought a 49.9% stake in Cypriot airline TUS Airways. Under the terms of the deal, Knafaim, controlled by Tami Mozes-Borovitz, will inject $5 million into the airline, through its Global Knafaim Leasing unit, while US businessman Kenneth Woolley will inject $4 million for a 50.1% stake. Woolley is the controlling shareholder in US carrier Eastern Airlines.
RELATED ARTICLES