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Nimrodis nearing Maariv sale to Blavatnik
By Guy Leshem
Tags: Israel

The Nimrodi family, controlling shareholders of the Ma'ariv group, has reached a 'no shop' agreement with businessman Leonard Blavatnik in order to continue negotiations over the sale of the daily newspaper.

The agreement, which will remain in force for 30 days, gives Blavatnik exclusive rights to negotiate, and Nimrodi will be barred from negotiating with any other party, including the US businessman Sheldon Adelson. This is said to be the first time in the series of discussions over the sale of Ma'ariv that such an agreement, a benchmark for progress in negotiations, has been signed.

Last month marked a dramatic turn in negotiations over the sale of the newspaper, when Blavatnik, the Jewish American businessman born in the former USSR, and founder and controlling shareholder of Access Industries, signaled his interest in buying the paper from the Nimrodi family, and Vladimir Gusinsky who owns a 27% share in the paper, thus deepening his foothold in the Israeli media industry.
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Born in the former USSR, Blavatnik founded Access upon completing his studies, and is the company's president and chairman. He began forging business ties with Israel two months ago, acquiring a 20% share in the media firm RGE from local businessman Aviv Giladi. The media arm of his holding company Access is invested in a variety of companies, including the US company Warner Music Group, and other media companies in Britain and Russia, but Ma'ariv will be the first print newspaper in its portfolio.
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