The Ticker: Negev Ceramics Going on Block

Globes editor departing amid Fishman bankruptcy, newspaper’s sale; Tel Aviv stocks gain ground.

A science park and the Negev Ceramics factory in Yeruham.
Eyal Toueg

Negev Ceramics going on block 

Negev Ceramics is going up for sale. The tiling company’s financing banks as well as its controlling shareholder, Africa Industries, have started looking for an investor to buy the controlling share, and hired advising company Ziga Zinger Even to assist. The company will serve as an investment banker during the process of finding a buyer. Africa Industries is part of the Africa Israel group, currently controlled by Lev Leviev. Control of the group may pass to new investors as part of a debt arrangement currently underway. Negev has had weak financial results of late, most recently completing a 680 million-shekel debt arrangement with its five financing banks. (Michael Rochvarger)

Globes editor departing amid Fishman bankruptcy, newspaper’s sale

The editor of business newspaper Globes, Hagai Golan, is stepping down. The announcement comes amid the collapse of Eliezer Fishman’s business empire and the plans to put Globes, which Fishman controls, up for sale. Golan is expected to partner with Channel 20 in the tender to operate the Knesset TV channel. He has been editor of Globes for the past 20 years, but over the past few years was said to have lost control over the newsroom. He also has been accused of enabling Fishman to use the newspaper to advance his business interests. The television program “Uvda” reported that Fishman had backed a 1.5 million-shekel loan that Golan took out to buy his house. (Nati Tucker)

Tel Aviv stocks gain ground

The Tel Aviv stock exchange finished yesterday’s trading session with gains, as did exchanges in Europe. Nearly all the indexes closed in the black, with the exception of communication shares. Corporate bonds also gained ground, while government bonds declined. The blue-chip Tel Aviv-25 Index gained 0.8% to close at 1,419 points, while the broader Tel Aviv-100 Index gained 0.9% to close at 1,254 points. Real estate shares gained 0.7%, while oil and gas shares gained 1.1%, and biomed shares gained 1.9%. Total turnover was 1.46 billion shekels. Teva, which fell 5.3% two days ago on the news that a U.S. court had ruled that four patents connected to its flagship drug Copaxone had expired, recovered 3.4% yesterday. Other pharmaceutical companies, Perrigo and Opko Health, gained 2.5% and 2.2% respectively. (Guy Erez)