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Arkia employees scramble to find rival investor by Monday to counter $45 million sale deal

Arkia employees scramble to find rival investor by Monday to counter $45 million sale deal

An investor group has signed a $45 million deal to take control of Israeli airline Arkia, weeks after rival Israir said it was in talks to buy it. Employees have until Monday to match the offer.

Arkia employees are scrambling to find a rival investor by Monday to counter a $45 million deal to buy the airline, signed by a group of private investors.After an emotionally charged night of negotiations between Arkia employees and the group of buyers, led by Yariv Lerner, Kidan Dahari, Yaron Adiv, and Einav Adiv-Berar, talks on the sale are moving to the next stage. The employees' corporation has three days, until Monday afternoon, to match the offer signed with the Nakash brothers.The talks ended at around 3 a.m. Alongside the talks with the buyers, employee representatives are already meeting with several investors to see which of them can match the offer, what their plans for Arkia are, and what arrangement they are willing to make with the employees.If they find an investor who can meet the terms of the deal and with whom they reach agreements on the future of the company and its employees, they will submit their offer by Monday.The deal includes an injection of about $45 million into Arkia's coffers. The group of buyers will put in about $30 million and receive control of the company, with the rest coming from brothers Rafi, Joe, and Avi Nakash and the state. The Nakash brothers will keep about 3% of the shares.The employees held about 22% of the company through…

In brief

Arkia employees are scrambling to find a rival investor by Monday to counter a $45 million deal to buy the airline, signed by a group of private investors.After an emotionally charged night of negotiations between Arkia employees and the group of buyers, led by Yariv Lerner, Kidan Dahari, Yaron Adiv, and Einav Adiv-Berar, talks on the sale are moving to the next stage.

This is the opening of the story, shared with credit to The Jerusalem Post. The rest of the report — with every detail — continues on the publisher’s website.

Continue reading at The Jerusalem Post ↗

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