Economy

Tamir Cohen Set for NIS 5.9 Million Fee and NIS 10.1 Million YBOX Loan

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Courtroom-sketch editorial illustration of two Israeli businessmen posed side by side, one in an open-collar white shirt and the other in glasses and a dark suit, drawn in warm ochre and slate-blue pastel with cross-hatching on sepia newsprint.

Tsahi Abu’s Gefen Residences is acquiring 20% of YBOX for NIS 76 million, while former Shikun & Binui chief executive Tamir Cohen is set to acquire another 5.4%. Cohen’s NIS 16.1 million portion is expected to be financed with a roughly NIS 10.1 million loan from Gefen. He is also set to receive about NIS 5.9 million in advisory fees. The deal values YBOX at NIS 300 million, includes a voting agreement, and is expected to give Abu and Cohen influence over management after completion.

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