Nuriel's stake in El Al was sold

Knafaim owns 39.4% of El Al, and its controlling shareholders are Izzy and Oded Borovich. Nuriel's stake was sold to Tamares Israel's owned by Poju Zabludowicz
 
Knafaim-Arkia Holdings Ltd announced last week that the holding of Avshalom Nuriel in Knafaim-Arkia had been sold to Tamares Israel's owned by Poju Zabludowicz.
 
Zabludowicz reportedly paid NIS 120 million for Nuriel's holding, a price that is significantly higher than Knafaim's market cap of around NIS 95 million. Knafaim owns 39.4% of El Al, and its controlling shareholders are Izzy and Oded (Dedi) Borovich. Izzy owns 14.6% of the company. Dedi Borovich owns 13.8%, while his wife Tami Mozes-Borovich owns a further 5.36%,
 
Last week's purchase is Zabludowicz's second purchase of holdings in Knafaim, after he acquired half of Nuriel's stake in December 2005.
 
Nuriel's representative said following the announcement that the sale was part of the company's long term strategic investment policy in which the company will invest in logistic companies where it can gain controlling interest.