Economy

G City Control Deal Faces Collapse as Katzman Demands Partner Agreement

Published

Courtroom-sketch editorial illustration of Chaim Katzman and Tzachi Abu in side-by-side head-and-shoulders portraits.

Chaim Katzman, whose Norstar currently controls G City, has demanded to see the agreement between Tzachi Abu and prospective partners Kidan Dahari and Yaron Adib. The demand has deepened a trust crisis less than a month after Ari Real Estate agreed to buy a 26% stake in G City from Norstar for NIS 661 million. The report says the likelihood of completing the transfer of control is rapidly approaching zero. Dahari and Adib's Ispro-Tnuport had joined Abu through an equal partnership intended to acquire the stake.

Sources

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