Bank Hapoalim apparently entertaining three offers for Lumenis
Leading offer is said to be by Gershon Salkind
TheMarker has learned that Bank Hapoalim has received three proposals for the purchase of Lumenis. According to market sources, the bids were by Gershon Salkind, Meir Shamir together with Moshe Mizrachi (former CEO of Syneron Medical Ltd., a competitor to Lumenis), and Fortissimo Capital.
Apparently Salkind's offer is currently the leading one.
Bank Hapoalim is managing the sale of Lumenis, which supposedly owes Bank Hapoalim approximately $190 million. The bank has been willing to extend the term of the loan, but some offers included requests of outright cancellation of part of the debt. Any negotiations with potential buyers are expected to include the levels of debt to be cancelled, if at all.
Electronics giant Philips had looked into buying Lumenis in the past, but declined to continue after its early investigations.
Lumenis, which is located in Yokneam, employs 900 workers. The firm develops, manufactures, and markets laser and other intensive pulsed light devices, which are used for a variety of aesthetic and medical applications.
The firm was investigated by the U.S. Securities and Exchange Commission. Within recent months, Lumenis reached a settlement with the SEC in which its shares would be
deregistered; the company plans to begin the re-registration process in 2007.
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