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American Jewish billionaire renews talks over Maariv purchase By Guy Leshem Tags: Maariv, Leonard Blavatnik Negotiations with Russian-born American billionaire Leonard Blavatnik over the sale of daily Maariv have recently been resumed. The talks value the publishing company at $90 million. Blavatnik, founder and president of Access Industries, wants to buy Maariv from the Nimrodi family and Vladimir Gusinsky, who owns a 27% stake in the financially ailing tabloid. Blavatnik made his first foray into the sector here two months ago after buying a 20% stake in Israeli media company RGE from Aviv Giladi. His firm's communications arm already has a stake in companies such as Warner Music Group as well as British and Russian media firms, but Maariv would be the first print newspaper in its portfolio. Blavatnik's envoys, who have been shopping around for business prospects in Israel, heard of the Maariv opportunity through attorney Zvi Hefetz - a representative and former partner of Gusinsky at Maariv. The two met in London, where Hefetz served as Israel's ambassador, and where Blavatnik has resided in recent years. The two maintained contact after Hefetz completed his posting. Advertisement With Maariv's main shareholders - Yaakov and Ofer Nimrodi and Gusinsky - embroiled in severe disputes over the past year, Gusinsky announced that he was seeking to sell off his stake in the paper, as Ofer Nimrodi had done before reneging. The entrance of Jewish American gambling czar Sheldon Adelson into the Israeli communications industry appeared to be a golden opportunity, but lengthy negotiations between Adelson and Ofer Nimrodi broke down over the company's valuation. Meanwhile, relations between Nimrodi and Gusinsky have soured and have been referred to arbitration under former Supreme Court president Meir Shamgar. But the process recently broke down as well after Nimrodi complained about the arbitrator. About three weeks ago TheMarker reported that Hefetz had approached Gusinsky and Nimrodi with an offer from Blavatnik for the takeover of Maariv. Hefetz, who has maintained friendly relations with both parties, is considered someone who can bring everyone to the negotiating table - a hitherto seemingly impossible mission. But as in the case of Adelson, negotiations with Blavatnik broke down, over the figure of $120 million - the value of the paper stipulated by Nimrodi as the basis for any negotiations. Blavatnik and his emissaries were unwilling to even discuss this sum as the standard, and broke off contacts. But in recent days, talks have been revived by telephone between London and Tel Aviv, where Blavatnik made the offer of $90 million. Sources familiar with the discussions denied reports that Blavatnik has offered to buy just part of the company that owns the paper, leaving Nimrodi as a partner. They said negotiations have always been for a full acquisition. But it is unclear if the discussions will move forward and Nimrodi will agree to discuss the new offer, which is far less than the amount he has demanded to date. An additional condition for the negotiations is a smoothing out of disagreements between Nimrodi and Gusinsky, with which Hefetz may be able to assist. Nimrodi was unavailable for comment, and Hefetz declined to comment. Bookmark to del.icio.us   The bigger apple Study shows Tel Aviv is more expensive to live in than New York. When bedbugs bite After 40 years' absence, Israel braces for return of the bedbug.

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