Embattled Israeli Tycoon Danker Lets Parents Loose From IDB Holding

Groaning under the weight of NIS 1.7 billion owed to the banks, Nochi Dankner has purchased 455,000 shares off of his own father in a deal not listed on the stock exchange.

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Nochi Dankner, an embattled tycoon and the controlling shareholder of IDB Holdings, is removing his own parents from IDB Holding Corporation. After his mother Goldie resigned from the company's board of...