Azrieli to Delist Granite Hacarmel Investments From Tel Aviv Stock Exchange

Move comes after David Azrieli delisted paint maker Tambour from TASE.

After delisting paint maker Tambour from the Tel Aviv Stock Exchange, David Azrieli now wants to do the same for Granite Hacarmel Investments.

His Azrieli Group on Wednesday offered to buy out minority shareholders in Granite for NIS 255 million, or NIS 4.40 a share. Azrieli owns 60% of the holding company.

The offer is good through September 10. Azrieli has not made it contingent on ta minimum number of acceptances. Granite traded at NIS 3.54 before the announcement. The highest price for the shares over the past year was NIS 6.41 last October.