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

Tsahi Abu’s Gefen Residences is acquiring 20% of YBOX for NIS 59.8 million, while former Shikun & Binui chief executive Tamir Cohen is set to acquire another 5.4% for about NIS 16.1 million, a combined NIS 76 million for 25.4% at 81.2 agorot a share. Cohen’s portion is expected to be financed with a roughly NIS 10.1 million loan from Gefen, repayable after three years and secured against his YBOX shares. He is also set to receive about NIS 5.9 million in advisory fees plus VAT. 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.