Alexander Granovsky: 'Nochi Dankner Is the Solution for IDB, Not the Problem'

Ukrainian businessman who partnered with controlling shareholder in bid for IDB group defends Dankner's performance at the helm.

Send in e-mailSend in e-mail

Ukrainian businessman Alexander Granovsky, the head of a consortium bidding for control of IDB Holding Corporation that includes the embattled head of the IDB group, Nochi Dankner, defended Dankner in an interview with TheMarker yesterday.

Granovsky said that even though Dankner was the controlling shareholder of IDB Holding Corp. when it reached the point of insolvency, he was not responsible for the debacle.

“We know the mistakes made at IDB and will try to correct them. Dankner isn’t the problem at IDB. Everyone has their pluses and minuses. We will try to benefit from Dankner’s pluses.”

Granovsky said he and Dankner chose their partners in the consortium together, but added, “The final decision is mine.” He also admitted that he had not met any of their other partners.

“I won’t lie. I always tell the truth and I haven’t met a single one of my partners on IDB face to face, but my CEO, Yossi Schneorson, met everyone on my behalf,” Granovsky said, referring to Israel Jossef Schneorson, the CEO of Emblaze, which Granovsky controls.

Granvosky said he wanted to invest in IDB because he believed the company could be turned around by paying off its debts to creditors and then selling off its bad assets, followed by its good ones.

“It is a good company and I believe that God has blessed us in business with the group of investors we have gathered,” said Granovsky. “Our partners are very successful people, Nakash [the brothers who founded Jordache jeans and own Arkia Airlines] Netz [Group], Dankner, they understand business well and will bring profits to IDB in the future.”

Granovsky related that his first business success was buying a Jeep that he later resold at a good price. “This was during a period in Russia and the Ukraine when you could buy assets cheaply and sell them high. That’s how I started to get ahead in business. Afterward, I did the same thing in real estate.”

But representatives of IDB bondholders will recommend the competing consortium for control of the company, led by Argentinian businessman Eduardo Eslztain and Moti Ben-Moshe.

The final decision is set to be made on December 15, in the courtroom of Tel Aviv District Court Judge Eitan Orenstein.

Alexander Granovsky. 'Everyone has their pluses and minuses. We will try to benefit from Dankner’s pluses.'Credit: Israel Bardugo

Click the alert icon to follow topics:



Automatic approval of subscriber comments.
From $1 for the first month

Already signed up? LOG IN


Charles Lindbergh addressing an America First Committee rally on October 3, 1941.

Ken Burns’ Brilliant ‘The U.S. and the Holocaust’ Has Only One Problem

The projected rise in sea level on a beach in Haifa over the next 30 years.

Facing Rapid Rise in Sea Levels, Israel Could Lose Large Parts of Its Coastline by 2050

Tal Dilian.

As Israel Reins in Its Cyberarms Industry, an Ex-intel Officer Is Building a New Empire

Queen Elizabeth II, King Charles III and a British synagogue.

How the Queen’s Death Changes British Jewry’s Most Distinctive Prayer

Newly appointed Israeli ambassador to Chile, Gil Artzyeli, poses for a group picture alongside Rabbi Yonatan Szewkis, Chilean deputy Helia Molina and Gerardo Gorodischer, during a religious ceremony in a synagogue in Vina del Mar, Chile last week.

Chile Community Leaders 'Horrified' by Treatment of Israeli Envoy

Queen Elizabeth attends a ceremony at Windsor Castle, in June 2021.

Over 120 Countries, but Never Israel: Queen Elizabeth II's Unofficial Boycott