Tuesday, January 11, 2011

Jewish Group Blocks Palestinian Jerusalem Housing Bid

A group of Jewish investors has enough support among bondholders to block a Palestinian-American businessman from gaining control of a Jewish housing complex in east Jerusalem, according to a real estate developer supporting the investors. 

“It’s very clear that this is over,” said Israel Zeira, chief executive officer of Bemuna Ltd., the Israeli real estate company that is marketing apartments in the Nof Zion complex. “We definitely have the number of bondholders to win.” 
Dov Weissglas, the lawyer representing Palestinian businessman Bashar Masri in the negotiations, said today in a phone interview that his client was ending his bid, though he later said the situation wasn’t clear. 
Zeira, who is also a bondholder, said a Jewish group made up of investors from Israel and abroad matched Masri’s offer for Tel Aviv-based Digal Investments and Holdings Ltd., which is developing Nof Zion. Bondholders agreed to sell them more than half of the company’s bonds, Zeira said.
Merav Ofer, a trustee for Digal bondholders, said the group hasn’t taken a final vote on the two offers.
Masri, chairman of Ramallah-based Massar International Group, said he offered bondholders some 60 cents on the dollar.
Israel’s three major business dailies, Globes, The Marker and Calcalist, all reported that the biggest Digal bondholder sold its bonds to supporters of the Jewish bidders, giving them the margin to beat Masri’s offer. 

P.S.  Nothing but pure racism out in the open and nobody wants to say a word about it. if the shoe was on the other foot and the investor was a Jew ; my O my. the dogs of US media would have been set loose. 

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