Silent but deadly: How York bought up IDB bonds
The American hedge fund is now positioned to take control of the company or its most plum assets - at the expense of owner Nochi Dankner.
The nature of brilliant moves is that the moment they take place, everyone starts to wonder why they didn't occur earlier. Once such move is York Capital Management's acquisition of IDB Development bonds, as revealed in TheMarker last week. The American hedge fund group bought up 20% of the company's total bond debt, with a face value of NIS 800 million - a game-changer for Israel's largest holding company,...
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