May 26, 2011, New York Times, U.S. Announces Sanctions Against Israeli Company, by Isabel Kershner,
JERUSALEM — Even as Prime Minister Benjamin Netanyahu was praising the United States in a speech on Tuesday for imposing tougher sanctions on Iran for its nuclear activities, the State Department announced that it was imposing sanctions on a leading Israeli company, Ofer Brothers Group, for activities supporting Iran’s energy sector.
While the State Department’s decision caused Israel considerable embarrassment, it was the timing that created the greatest stir. It came soon after Mr. Netanyahu's friction with Mr. Obama over using the 1967 borders as a basis for solving the Israeli-Palestinian conflict.
“Nobody wants to over-interpret the choice of timing,” said an Israeli official who was speaking on the condition of anonymity for diplomatic reasons, “but there was no objective reason for the State Department to come out with the announcement on that precise day.”
“Does this carry meaning? I am unable to tell you. But you cannot blame anybody for being suspicious,” he said.
The Obama administration dismissed any connection between the sanctions and Mr. Netanyahu’s visit. “These sanctions take months” to work through the Department of Treasury’s vetting process, a senior administration official said. “There is a process.”
Still, the awkward fact remains that a corporation owned by one of Israel’s most prominent business families has been blacklisted for dealings, however indirect, with Iran.
According to the State Department, the Ofer Brothers Group and its Singapore-based subsidiary, Tanker Pacific, are being sanctioned along with Associated Shipbroking of Monaco for their roles in a September 2010 transaction that provided a tanker valued at $8.65 million to the Islamic Republic of Iran Shipping Lines.
The shipping company has been cited by the United States and the European Union for its role in supporting Iran’s proliferation activities. Deputy Secretary of State James B. Steinberg told reporters in Washington that “Iran uses revenues from its energy sector to fund its nuclear program, as well as to mask procurement of dual-use items.”
The State Department determined that Tanker Pacific and Ofer Brothers Group “failed to exercise due diligence and did not heed publicly available and easily obtainable information” that would have indicated that they were dealing with the Iranians. As a result, the two companies are barred from security financing from the Export-Import Bank of the United States, from obtaining loans over $10 million from American financial institutions and from receiving United States export licenses, the State Department said.
Tanker Pacific issued a statement saying that it was “startled to learn” of the sanctions over the sale of one of its tankers, the MT Raffles Park, and that it believed the American decision was taken “in error.”
The company said that it had been working closely with American authorities since it first received inquiries relating to the sale, and that it had taken “all appropriate action” at the time of the transaction to ensure that the parties involved were not connected with Iran.
Motti Scherf, the media adviser of the Ofer Brothers Group, at first went on Israeli television and described the allegations as a misunderstanding. Reached by telephone on Thursday, Mr. Scherf refused to comment.
The Israeli news media have reported that the tanker eventually ended up in the hands of Crystal Shipping, a company based in the United Arab Emirates, and that from there it went to Iran.
The Tel Aviv-based Ofer Group, founded by the brothers Sammy and Yuli Ofer in 1956, is a multibillion-dollar global holdings group. Its growth is “a classic tale of a family’s journey from rags to riches,” according to its Web site.
There have long been grumblings in Israel about how a small business elite wields disproportionate power in the national economy. The Ofers are counted among the top 20 families, which together control 25 percent of the country’s listed companies.
However, the Israeli official said that the Ofer family would have to deal with American authorities themselves.
Steven Lee Myers contributed reporting from Deauville, France.
June 3, 2011, New York Times, Death of Israeli Tycoon Is Latest Twist in Scandal, by Isabel Kershner,
JERUSALEM — Sammy Ofer, an 89-year-old Israeli shipping tycoon whose company is at the center of a storm over alleged dealings with Iran, died after an illness on Friday. It was the latest twist in a saga that has riveted Israelis and stirred furious speculation about possible links between wealth, power and Israeli intrigue.
The scandal began with an announcement from the State Department on May 24 that it was imposing sanctions on the Ofer Brothers Group, one of Israel’s leading companies, for activities supporting Iran’s energy sector. According to the State Department, the Ofer Brothers Group and its Singapore-based subsidiary, Tanker Pacific, sold a tanker in September 2010 for millions of dollars to the Islamic Republic of Iran Shipping Lines. American officials noted that Iran uses revenues from its energy sector to finance its nuclear program.
Israel’s embarrassment was compounded by the fact that the announcement came on the same day that the prime minister of Israel, Benjamin Netanyahu, warned darkly of the dangers of a nuclear Iran and praised the United States for imposing tougher sanctions on that country in a high-profile address to Congress.
Days later, the Israeli Haaretz newspaper reported that at least 13 Tanker Pacific ships had docked in Iran over the past decade according to Equasis, a major shipping information database. And while the Ofer family remained silent, anonymous associates began alluding to factors that could not be spoken about publicly for security reasons.
Like a plot in a spy thriller, the associates hinted that the Ofers were not involved in dealings with Iran for the money, or only the money, but that they were also providing secret services to the state of Israel.
Tanker Pacific first said it believed that the American decision to blacklist it was taken “in error.” In a later statement, it said that it was employing “enhanced compliance procedures” to ensure that such an event would not happen again. Tanker Pacific has also tried to distance itself from the Ofer Brothers Group in Israel, denying any direct ownership link.
Amid apparent confusion about the various branches of the Ofer business empire, State Department officials said they have identified the Ofer Holdings Group, a multibillion dollar global holdings group controlled by Sammy Ofer’s branch of the family, as the parent of Tanker Pacific.
Tanker Pacific said its ships had docked in Iranian ports over the years, transporting refined oil and petroleum product cargoes for customers including international oil companies, commodity traders and end users, an activity permitted under international rules. It said it ceased such trading in April 2010 in line with the international sanctions regime. It said it also decided to stop loading crude oil at Iranian ports in late 2010.
An Israeli representative of the Ofer business empire refused to comment further on Friday, saying that there were things that could not be discussed in the news media and that the story was more complex and sensitive than it seemed.
Adding to the cloak-and-dagger atmosphere, Meir Dagan, Israel’s recently retired Mossad intelligence agency chief, has weighed in on the Ofer family’s behalf. Mr. Dagan told the Israeli news media he believed that the whole affair had been blown out of proportion and that the family had not broken any laws.
But the plot has only thickened. Early this week Ofer family associates suggested that the state of Israel had given the family permission to dock their ships in Iran. The prime minister’s office put out a statement saying there was no such authorization and that any suggestion otherwise was incorrect.
On Tuesday, a debate in the Israeli Parliament’s Economic Affairs Committee on the Ofer Group dealings with Iran was abruptly and mysteriously halted by the committee chairman after he was handed a note. The source and contents of the note have not been divulged.
The Israeli news media has reveled in exposing close links between Ofer-owned companies and former or would-be figures in the Israeli defense establishment. For example, Haaretz reported Wednesday that until two months ago, Yaakov Amidror, Mr. Netanyahu’s recently-appointed National Security Adviser and a former military official, sat on the boards of several Ofer-controlled companies.
The prime minister’s office issued a statement clarifying that “Gen. Amidror was not connected in any way or form with any of the companies alleged to have dealt in transporting fuel from Iran, or with the company that sold a tanker to an Iranian company.”
Some critics have accused the Ofers of trying to create a smokescreen of security for their own defense.
It was amid this brouhaha that Sammy Ofer, who was listed as the richest person in Israel, died at his Tel Aviv home. The family described him in a statement as one of the last of the great shipping giants. The four-page statement described how Mr. Ofer bought his first ship in the 1950s and expanded his business into a global enterprise, his fleets ranging from tankers to cruise lines.
Though Mr. Ofer, who was also a philanthropist and a patron of the arts, lived much of his life in Europe, the statement continued, he was always closely tied to Israel. It made no mention of the recent furor about the dealings with Iran.
June 3, 2011, Associated Press, Controversial Israeli Billionaire Ofer Dies, by Matti Friedman,
JERUSALEM (AP) — An Israeli billionaire at the center of a recent scandal involving trade with Iran died Friday in Tel Aviv. He was 89.
Shipping magnate and philanthropist Sammy Ofer was listed last year by Forbes as Israel's richest person, and appeared as number 109 on the magazine's list of the world's richest people.
Ofer's family released a statement saying he died Friday morning at his Tel Aviv home after a long illness.
Ofer's name had been in the news since the U.S. government sanctioned his company, Ofer Brothers Group, last month for selling an oil tanker to Iran's national shipping company through a Singapore subsidiary. The move violated U.S. trade restrictions on Iran.
That embarrassed the Ofer family and the Israeli government, which has long been a vocal proponent of tighter sanctions on Iran. Israel considers Iran's nuclear program to be an existential threat.
Ofer died as calls grew in Israel for an investigation into the affair.
Along with his brother, Yuli, Sammy Ofer owned Zim Integrated Shipping Services, one of the world's biggest container shipping companies. The family controls The Israel Corp., with vast assets in shipping, chemicals, energy and transportation, and also has holdings in real estate and banking.
The Ofer brothers did not comment publicly on the U.S. charge. A spokesman said the $8.5 million deal, small for the massive conglomerate, was conducted unwittingly with an Iranian shell company. Nonetheless, the company said it was embarrassed.
"I think this is very serious. We preach to the world to impose sanctions on Iran, and it turns out that an Israeli company might be involved in dealing with them," Nachman Shai, a lawmaker with the opposition Kadima Party, said this week after the charges were made public.
Media reports suggested that the Ofers' ties with Iran might have been authorized by the government, and there were broad hints that their activities were linked in some way to Israeli intelligence operations.
Prime Minister Benjamin Netanyahu's office denied that the government had authorized the company's dealings.
The family's statement Friday made no mention of the scandal.
"Through his children and grandchildren, and in the spirit of the founder, the group's business will continue without change, while protecting our tradition of hard work and commitment, which constitute the great inheritance Sammy left behind him," the statement said.
Ofer, born in Romania in 1922, moved two years later to what was then the British Mandate territory of Palestine, according to a brief biography provided by the family. He served on a Royal Navy minesweeper in World War II and later as an officer in the Israeli navy.
Along with his brother, Sammy Ofer turned a small family shipping business into a huge international conglomerate, and he moved to Monaco in the late 1970s. He returned to Israel permanently only in the years before his death.
In 2008, Ofer donated 20 million pounds ($33 million) to fund a new wing at Britain's National Maritime Museum, which observers said was the largest private donation ever made to a British cultural institution. He was subsequently awarded an honorary knighthood.
Ofer, an avid art collector, withdrew a planned $20 million donation to the Tel Aviv Museum of Art in 2006 after other donors objected to naming the museum for him and his wife.
Ofer funded numerous other causes in Israel, but the Ofers nonetheless remain a family many Israelis love to hate. Sammy Ofer, with his trademark goggle-like designer glasses, was widely seen as a symbol of the intersection of power and money.
Critics have long charged that the Ofers were allowed to buy up privatized government assets at below-market rates and that they wield undue influence on the media and in politics. They were also accused of allowing their chemical and energy businesses to pollute the environment and contribute to the alarming shrinking of the Dead Sea.
September 14, 2011, The Associated Press, Yuli Ofer, Israeli Tycoon, Is Dead at 87,
JERUSALEM (AP) — Yuli Ofer, one of Israel’s richest men, died Thursday at his home near Tel Aviv. He was 87.
His death was announced by his family. It came three months after the death of his brother and longtime business partner, Sammy Ofer.
The Ofer brothers built a business empire that included holdings in international shipping, real estate, chemicals and banking. They divided up their assets in recent years, but their joint worth has been estimated at $4 billion to $10 billion.
Yehuda Ofer was born in Romania and emigrated to the British Mandate of Palestine with his family. He later fought in the Israeli Army. He and his brother entered the shipping business in the 1950s.
This year the United States government imposed penalties on Sammy Ofer’s company, the Ofer Brothers Group, for selling an oil tanker to Iran through a Singapore subsidiary, in violation of United States trade restrictions on Tehran.
Shortly after that, Sammy Ofer died at the age of 89.
The State Department on Tuesday removed the Ofer Holdings Group from the sanctions list, and the family was not considered responsible for the business decisions.
June 3, 2011, Reuters / Jerusalem Post, Netanyahu: Sammy Ofer 'was a true Zionist',
89-year-old Ofer Bros. Group co-owner found dead in TA apartment; businessman spent final weeks embroiled in controversy over Iran ties.
Businessman Sammy Ofer was found dead Friday morning inside his Tel Aviv apartment. He was 89 years old.
Prime Minister Binyamin Netanyahu expressed his condolences over the billionaire Israeli businessman's passing on Friday, saying, "Ofer was a true Zionist" in everything that he did, and "never forgot his responsibility to others."
Ofer, one of the owners and founders of the Ofer Brothers Group, a major international shipping company, was at the center of a major controversy the past few weeks since the US slapped sanctions on the company, claiming the group sold an oil tanker to Iran.
Ofer was born in Romania in 1922, immigrating with his family to Mandate Palestine two years later. He served in the Royal Navy during World War II and the Israeli Sea Corps during the War of Independence in 1948.
After finishing his army service, he became a shipping agent with Eastern Conglomerate, buying his first ship in 1950. Ofer vastly expanded his enterprise for the remainder of his life, and became the owner of one of the largest private shipping companies in the world, valuing nearly $3.6 billion. Zim Integrated Shipping Services, a subsidiary of the Ofer Brothers Group, is Israel's largest holding company, and the 10th largest shipping company in the world.
According to the 2011 Forbesbillionaires list, Ofer was Israel's richest man with a net worth of $10.3 billion.
In his final few weeks, however, the business tycoon was at the center of a major controversy after US Secretary of State Hillary Clinton announced that the Ofer Brothers Group was one of seven companies to be sanctioned over trade with Iran. The company was accused of providing an $8.65 million tanker to the Islamic Republic.
Ofer Brothers Group denied it ever sold ships to Iran.
The government has long urged tough action against Iran, accusing the Islamic Republic of working to build a nuclear bomb. But authorities reacted cautiously to the US move, fuelling speculation about possible links between the brothers and intelligence services.
A specially organized meeting at the Knesset Economics Committee over the scandal was abruptly halted live on television after chair MK Carmel Shama-Hacohen (Likud) received a mysterious note, the contents of which have yet to be divulged.
"Let's just be clear the note is not from a political figure and not from a business figure," Shama-Hacohen said, leaving open the possibility of an appeal by the defense establishment.
Outside his career in the shipping industry, Ofer is said to be one of the world's top art collectors, with a penchant for works by impressionist masters. He was reported to have paid $40.3 million for a painting by Vincent van Gogh that went to auction in 2006.
Ofer is survived by his wife and two sons, Idan and Eyal.
His funeral will be held Sunday at the Trumpeldor Cemetery in Tel Aviv, Israel Radio reported. His family has said that the Sammy Ofer's companies would continue to operate under the guise of Ofer's children and grandchildren.
Lahav Harkov contributed to this report.
May 31, 2011, Jerusalem Post, Mystery note halts Knesset debate on Ofer Bros, by Ron Friedman, Lahav Harkov and Nadav Shemer,
Nachman Shai fumes at outside intervention into Knesset affairs; Ofer reps decline to participate in meeting; gov’t takes first steps to investigate affair.
A Knesset committee meeting that was supposed to shed light on the government’s behavior regarding the Ofer Brothers affair, only managed to raise further questions after it was brought to an abrupt stop minutes after it began on Tuesday afternoon because of a mysterious note.
The Knesset Economics Committee meeting dealing with the illegal sale of an oil tanker jointly owned by the Ofer Brothers Group and Singapore- based Tanker Pacific to the Islamic Republic of Iran Shipping Lines, was adjourned by committee chairman Carmel Shama-Hacohen (Likud) after he was handed the note.
Shama-Hacohen refused to identify the author of the note, but said it wasn't from a political or business related source, indicating that the instruction may have been security related. Earlier in the day, Shama-Hacohen had said that the meeting might be shifted to a closed session of the Foreign Affairs and Defense Committee.
The Prime Minister’s Office responded that neither it, nor any agency related to it, ordered the meeting closed.
“Prior to the commencement of the meeting, possible implications of the holding of the meeting were being considered, balancing the benefit and need of holding the debate with fear of causing harm. In the midst of the meeting, it was decided to stop it,” Shama- Hacohen said in a statement.
MK Nachman Shai (Kadima), who attended the meeting, called the decision to shut it down “an insult to democracy.”
“Who has the authority to close down a perfectly legal committee debate in the Knesset?” Shai asked in a letter he sent to the Knesset legal adviser. “This was a severe injury to Israeli democracy, which we in this House represent.”
Shai said he could understand a motion to close off a meeting for security reasons, but that the cancellation of a meeting in such a manner was unprecedented in Knesset history.
Before the abrupt cancellation of the meeting, Shama- Hacohen criticized both the Ofer family and government representatives who had been invited to attend the meeting, for failing to show up.
“Everybody claims that they are not connected to the affair, that they have nothing to add and therefore no reason to attend,” he said. “I think it’s a mistake. Though I can’t force anyone to attend the meeting, it would have been better if the Ofer family had sent a representative to clear things up. All the evasive letters sent to the committee won’t help anyone escape responsibility.”
Other lawmakers who attended the meeting, including MK Nissim Ze’ev (Shas) and MK Yisrael Eichler (United Torah Judaism) said the media was too quick to judge the Ofer family and that they should be given the benefit of the doubt.
The Ofer family released a statement earlier on Tuesday afternoon, saying that they would not send a representative to the meeting, following an announcement by Israel Corporation, the country’s largest holding company and majority-owned by the Ofer Brothers Group, saying that “the sanctions imposed by the US administration in respect of the sale of a tanker by Tanker Pacific which ended up in the hands of Iran, are not applicable to Israel Corporation, its subsidiaries and companies held by Israel Corporation.”
Earlier, a family spokesman denied that statements made on Monday by sources described as being close to the family, claiming that the company had received government permission to dock in Iran, were approved by the family, and that the family regretted that they were said.
“The Ofer family holdings in Israel are widespread. There is a general public interest at stake and we need to receive answers from them,” Shai said during the Knesset panel meeting.
“Right now there are more questions than answers: What is the legal status of activities with Iran? What about civil trade with Iran? Who is the Israeli body responsible to make sure that there is no trade with Iran?
“So far we have only received partial answers delivered stutteringly – statements that say one thing and hide another. It would not be farfetched to have an authorized body conduct a thorough investigation.”
Though the attorney-general has yet to publicly order an investigation into the affair, several government agencies announced on Tuesday that they would conduct probes of their own.
Finance Minister Yuval Steinitz addressed the matter on Tuesday during a press conference in Jerusalem to announce new measures to deal with rising housing prices.
In relation to the Ofer Brothers specifically, he said he is looking at the matter personally and had held preliminary internal discussions with ministry officials, but that he could not give any more information at present. However, he did refer to the fact that his ministry established a committee roughly six months ago that is working to create a framework to ensure that Israeli companies do not invest in companies connected to Iran.
The Bank of Israel’s banks supervisor David Zaken also said he would be investigating the Ofer Brothers affair in the coming days, looking at those aspects relevant to his own role at the central bank, in light of the Ofer brothers’ holdings in the Mizrachi Tfachot bank.
Army Radio reported that the security supervisor in the Defense Ministry was also investigating the affair.
On Monday, MK Arye Eldad (National Union) made an enigmatic statement saying it was possible that the tankers that docked in Iran were spying on behalf of Israel and photographing its coasts, and therefore it must be established whether they are “heroes or villains.”
“It may be that the relative silence coming out of the government and the Ofer brothers is because of the sensitive nature of the deeds, maybe things are more complicated than meets the eye,” Eldad said.
Iranian officials have been quick to deny any business relations with Israeli-owned companies.
May 31, 2011, The Jerusalem Post, Netanyahu denies authorizing Ofer business ties with Tehran, by R. Fried\man, G. Hoffman, L. Harkov, N. Shemer,
LAST UPDATED: 05/31/2011 01:26
Gov’t committee has yet to produce list of banned companies that deal with Iran; Prime minister says he first heard about the affair from a journalist.
Photo: Moshe Milner / GPO
Prime Minister Binyamin Netanyahu on Monday denied ever authorizing or having prior knowledge of the Ofer Brothers Group trading with the Islamic Republic of Iran Shipping Lines.
He spoke at a meeting of the Knesset Foreign Affairs and Defense Committee; it was the first time the prime minister addressed the US State Department sanctions placed on the massive Ofer Brothers company.
The Prime Minister’s Office did not authorize the contacts between the Ofers’ company and Iran, Netanyahu said.
“I found out about it from a journalist’s question,” he said, adding that after checking with members of his staff who are authorized to deal with such matters, “there was no permission for any contact or delivery to Iran. We have clear policies on this matter.”
Netanyahu made the statement in response to a report by Yediot Aharonot citing unidentified people close to the Ofer family who said that Israeli authorities had given permission for vessels owned by a subsidiary, Tanker Pacific, to anchor in Iran.
For years, Netanyahu has been pushing for Israel and its allies to enforce tougher sanctions on Iran, saying the best way to battle the regime is by stifling its finances.
The Jerusalem Post learned that a special committee mandated by a law Netanyahu himself sponsored when he was head of the opposition, intended to prevent Israeli banks, insurance companies, financial institutions and funds from investing in companies that do major business with Iran, has yet to produce a list of banned companies.
The law, which was the only bill Netanyahu sponsored during the previous Knesset, passed with overwhelming support after he persuaded the coalition to back it. He also worked successfully to convince state legislatures in the US to divest from Iran during visits to the US, as well as through Ron Dermer, the economic attaché in Washington, whom he had appointed when he was finance minister.
Dermer is now Netanyahu’s senior adviser.
Netanyahu said at the time that divestment could “stop Iran dead in its tracks.”
However, a source close to Finance Minister Yuval Steinitz told the Post that even though the law was approved two-and - a-half years ago, the committee only started meeting six months ago and had yet to produce a list.
The Finance Ministry is also the governmental body in charge of enforcing the 1939 Mandate-era law that prohibits trade with enemy states. The law, which is still in effect, states that the finance minister is authorized to order an investigation into any company that is suspected of violating the law.
Attempts to have the ministry respond to questions about the oversight in its responsibilities have been unanswered.
The Defense Ministry has also declined to comment on the failure to report the prohibited business dealings.
“It’s very important that when we demand of all our friends around the world that they take action against corporations in their countries and continue key sanctions, we need to also enforce such rules on ourselves,” Defense Minister Ehud Barak said in a meeting of the Independence faction at the Knesset.
“I don’t know all the facts, but I hope they will become clear and I am sure that they will be dealt with properly in the future.”
There were repeated requests this week to the Attorney-General’s Office by MKs and civil society groups to open an indepth investigation into the matter, but the Justice Ministry has not indicated that such a probe will take place.
A Knesset Economics Committee, scheduled to meet on Tuesday afternoon, will be the first open public debate on the issue, and representatives of the various ministries, as well as of the different trade bodies and of the Ofers’ company, will be asked to explain how Israel heard about the illicit trade only from a US State Department press briefing.
Meanwhile, Tehran continues to deny that any Israeli firm had conducted business with Iranian companies. Neither Iran’s Commerce Ministry nor the Islamic Republic of Iran Customs Administration issued licenses for any US or Israeli ship to dock in Iranian ports, said Mohsen Sadeghifar, deputy managing director at Iran’s Port and Maritime Organization.
“Ships belonging to the shipping lines of the US and particularly the Zionist regime have not entered Iranian ports in recent years,” he said.
Bloomberg and Jerusalem Post staff contributed to this report.
May 29, 2011, The Jerusalem Post, Iran: 'We don't do business with Zionist companies',
LAST UPDATED: 05/29/2011 11:19
Iranian official denies country acquired tanker from Ofer Brothers group, says Iran's law forbids any economic transaction with Israel.Photo: Ariel Jerozolimski.
Iran has no business dealings with "Zionist" companies, Chairman of Iran's Chamber of Commerce, Industries and Mines (ICCIM) Mohammad Nahavandian said on Friday as quoted by AFP citing local Iranian media reports..
“Based on the laws of the country, any kind of trade or economic transaction with the Zionist regime and its affiliated firms is against the law,” Nahavandian was quoted as saying.
Calls to investigate Ofer Brothers following US report
More vigilance on Iran
“The news regarding the activities of Zionist firms in regard to Iran is a new game which has surfaced in reaction to other nations welcoming establishing economic ties with Iran,” Nahavandian added. “Thus they [Western powers] are naming some Zionist firms as engaged in doing business with Iran.”
Nahavandian's remarks come after the Ofer Brothers group was identified as one of seven companies facing US sanctions, for allegedly taking part in a September 2010 transaction that provided a tanker valued at $8.65 million to the Islamic Republic of Iran Shipping Lines.
According to a fact sheet released by the US State Department last week, the Ofer Brothers Group, together with Singapore based Tanker Pacific, “failed to exercise due diligence and did not heed publicly available and easily obtainable information that would have indicated that they were dealing with IRISL.
May 24, 2011, Reuters - Jerusalem Post, Israel company sanctioned by US for ties to Iran,
LAST UPDATED: 05/24/2011 18:13
Hillary Clinton penalizes seven companies, including Israel's Ofer Brothers Group, under Iran Sanctions Act of 1996.
US Secretary of State Hillary Clinton has announced sanctions on seven international companies due to their unsavory ties to Iran’s energy sector, and one of those companies is based in Israel.
The Ofer Brothers Group, a family owned business that owns Zim Integrated Shipping Services, the world’s 10th largest shipping company; a majority of the Israel Corporation, the country’s largest holding company; and more, has been slapped with penalties for allegedly providing an $8.65 million tanker to the Islamic Republic of Iran Shipping Lines, according to the US Department of State.
We believe that Tanker Pacific and Ofer Brothers Group failed to exercise due diligence and did not heed publicly available and easily obtainable information that would have indicated that they were dealing with IRISL,” the State Department said in a statement.
Ofer Brothers Group denied it had ever sold ships to the Islamic Republic.
“We have never sold ships to Iran,” it said in a statement.
The Ofer Brothers Group also has holdings in Israel Chemicals, Oil Refineries Ltd. and Bank Mizrahi.
The sanctioned companies include PCCI (Jersey/Iran), Royal Oyster Group (UAE), Speedy Ship (UAE/Iran), Tanker Pacific (Singapore), Associated Shipbroking (Monaco) and Petróleos de Venezuela.
The State Department was clear in its goal for imposing penalties on the companies under the Iran Sanctions Act of 1996: “By imposing these sanctions, the secretary sends a stern and clear message to companies around the world: Those who continue to irresponsibly support Iran’s energy sector and help facilitate Iran’s efforts to evade US sanctions will face serious consequences.”
September 7, 2010, The Jerusalem Post, The world's 50 Richest Jews: 21-30,
Alain and Gerard Wertheimer, Philip Green, Sammy Ofer and family, Steven Cohen, Viktor Vekselberg, Alexander Abramov, Eli Broad, Dorothea Steinbruch, Ira Rennert and Michael Kadoorie.Photo: Courtesy
21. Alain and Gerard Wertheimer
Ages: 62, 60. Net worth: $7.5 billion.
Born in France, Alain and Gerard Wertheimer inherited the luxury brand company Chanel, which was co-founded by their grandfather Pierre. Alain, the elder of the brothers, is the chairman of the company and resides in New York. Gerard chairs Chanel’s watch division and lives in Switzerland.
Very little is known about Chanel’s owners, who will only speak to the press to further their wine and equestrian interests, but according to The New York Times they live “like Old World aristocrats,” indulging their passions for horse racing, shooting, fine wines and art collecting. They own vineyards in Margaux and Saint-Emillon; horses that have won the French Derby, the Breeders’ Cup and Royal Ascot, and an art collection that includes pieces by Picasso and Matisse.
22. Philip Green
Age :58. Net worth: $6.7 billion.
Dropping out of the exclusive Jewish boarding school Carmel College at 15, Philip Green began his working life as an apprentice for a wholesale shoe trader, and by 23 had set up his first fashion business, importing jeans from the Far East. The London-born Green today controls 12% of the UK clothing retail market, with 2,300 stores. Knighted in 2006, he was recently named as an adviser to the British government to help drive efficiency savings in the private sector.
Green is said to have spent some $6 million on son Brandon’s bar mitzva in 2005 – a three-day event on a private peninsula between Nice and Monaco, that featured live concerts by Andrea Bocelli and Destiny’s Child. Green gives a million pounds a year to the Jewish Care health and social welfare charity. Four years ago he paid £60,000 to kiss supermodel Kate Moss – though he ceded the privilege to another bidder, model Jemima Khan – at a charity auction event in support of Palestinian refugee children.
23. Sammy Ofer and family
Age: 88. Net worth: $6.5 billion.
Starting out as a delivery boy and then a shipping agent, Romanian-born, Haifa-raised shipping magnate Sammy Ofer, together with his brother Yuli Ofer, built up a global empire, the Ofer Brothers Group, with holdings in banking and real estate. Last September, though, he announced his formal retirement, handing over to his two sons. Eyal runs the real estate business.
Israel-based Idan is chairman of Israel Corp., which holds strategic stakes in chemicals, energy, technology and shipping through the Zim Shipping Group.
Ofer, whose family moved to Palestine in 1924 and who served in the Royal Navy during World War II, later served in the Israel Sea Corps in the War of Independence. Two years ago, he was awarded a knighthood for his services to UK maritime heritage. He has donated £20 million to Britain’s National Maritime Museum and $25 million to Haifa’s Rambam Hospital. Ofer, who spends much of his time in Monte Carlo, owns an extensive collection of impressionist, post-impressionist and modern paintings.
24. Steven Cohen
Age: 54. Net worth: $6.4 billion.
Aself-made billionaire, Steven Cohen lives in a 30-room mansion in Greenwich, Connecticut. Born in Great Neck, New York, Cohen started out trading with his tuition money while at the Wharton School of Business. He famously made an $8,000 profit on his first day at the job at Gruntal & Co. where he worked for almost 25 years before setting up his own hedge fund SAC Capital Advisors, which now manages some $14 billion. Cohen is said to have spent $700 million on his art collection.
Cohen and his third wife, Alexandra, the mother of five of his seven children, earlier this year made a donation of $50m. to fund pediatric care at the Long Island Jewish Medical Center.
25. Viktor Vekselberg
Age: 53. Net worth: $6.4 billion.
Born in western Ukraine in 1957, Viktor Vekselberg is chairman of the board of Renova, one of Russia’s most progressive investment and business development companies.
He rose to prominence when Russia’s aluminum industry was privatized in the 1990s, co-founding SUAL Holding, the country’s second largest aluminum business, and becoming co-owner and chairman of Tyumen Oil.
Vekselberg made headlines in 2004 when he purchased nine of the Fabergé eggs and 180 other Fabergé pieces that once belonged to the family of Russia’s last tsar, Nicholas II, from the US Forbes publishing family, placing them on exhibit in the Kremlin.
26. Alexander Abramov
Age: 51. Net worth: $6.1 billion.
Born in 1959 in Moscow, Abramov is a graduate of the elite Moscow Institute of Physics and Technology with a PhD in physics and mathematics. Starting as a research scientist for Russia’s space and defense program, he went into business in the early 1990s when research funding dried up. Abramov became a metal trader and built a monopoly for rail and steel construction products, eventually becoming an industrial magnate as the head of Evraz Holding, Russia’s largest steel producer. In 2006, Roman Abramovich became Abramov’s partner in Evraz, boosting the company’s standing within Russia and abroad.
27. Eli Broad
Age 77. Net worth: $5.7 billion.
The son of Lithuanian immigrants, Eli Broad grew up in Detroit and was the youngest Michigan native to become a certified public accountant. Broad made his initial fortune in real estate and is the founder of insurance corporation SunAmerica.
Residing in Los Angeles for the last 40 years, Broad and his wife Edythe are the founders of The Broad Foundations, whose mission is to advance entrepreneurship for the public good in education, science and the arts. They established the Broad Art Foundation, an innovative lending library for contemporary art, which since 1984 has made more than 7,000 loans to museums and galleries worldwide.
The Broads recently pledged to distribute 75 percent of their total wealth, “during and/or after our lifetimes.”
Approximately $1 million of $60m. to $400m. per year of foundation donations go to overtly Jewish causes, such as the American Jewish Committee, the American Friends of the Israel Philharmonic Orchestra, the Anti- Defamation League and B’nai Brith. In 2006, they gave $100,000 to Friends of Israel Arts.
28. Dorothea Steinbruch
Age: Unconfirmed. Net worth: $5.5 billion.
With her three children and brother-in-law Eliezer (also a billionaire), Dorothea Steinbruch has inherited one of Brazil’s largest steelmakers, Companhia Siderurgica Nacional (CSN). She is not directly involved in running the business. Steinbruch is also the co-founder of Vicunha Group, the largest textile company in Brazil, which has recently expanded operations throughout Asia.
29. Ira Rennert
Age: 75. Net worth: $5.3 billion.
Ira Rennert controls one of the US’s largest privately held industrial empires. Born in Brooklyn in 1934, Rennert began his career, after graduating from NYU’s Stern School for Business, as a credit analyst on Wall Street. After brief stints as typewriter salesman and then securities broker, he opened his own securities brokerage, then entered the private equity market, and built his company, Renco, by using junk bonds to finance his acquisition of struggling firms, amassing significant holdings in mining and metals.
Rennert and his wife, Ingeborg, donated $5 million to establish the Wiesel Center at Boston University and established the Rennert Entrepreneurial Institute at Yeshiva University.
They have endowed chairs of Jewish studies at Barnard College and at the Albert Einstein College of Medicine in the US. In Israel, they founded the Ingeborg Rennert Center for Jerusalem Studies at Bar-Ilan University, and helped fund restoration projects at the Western Wall via the Western Wall Heritage Foundation (the visitors’ center is called The Ingeborg and Ira Rennert Hall of Light). Rennert was among a group of US donors who together last year pledged a reported $25.4m. over five years to build Jewish homes in the Muslim Quarter of the Old City and the Sheikh Jarrah neighborhood of east Jerusalem.
30. Michael Kadoorie
Age: 69. Net worth: $5.1 billion.
Born in Hong Kong in 1941, the Hon. Sir Michael Kadoorie is the chairman of CLP Holdings Ltd. (China Light and Power Holdings), a Hong Kong utilities company founded by his family in 1890. The fourth wealthiest person in Hong Kong and the Greater China region, Kadoorie is a descendant of Iraqi Jews whose roots in business in the Far East date back to his grandfather, the late Sir Elly Kadoorie, who settled in Shanghai in 1880. Kadoorie also has interests in power plants in China, Southeast Asia, Australia and India, and is the owner of Hong Kong and Shanghai Hotels Ltd.
A helicopter pilot and classic car fan, Kadoorie was knighted for his philanthropic activities in 2005 largely through the Kadoorie Charitable Foundations.
He has served as a committee member of the Jewish Community of Hong Kong and is a member of the Ohel Leah Synagogue there.
March 10, 2011, The Jerusalem Post, Sammy Ofer tops Israelis in 'Forbes' billionaires list,
Beny Steinmetz, Shari Arison take 2nd, 3rd spots for Israelis; Mexican telecom mogul Carlos Slim Helu is world's richest person.
Sammy Ofer and family topped the list of Israelis mentioned in Forbes'World's Billionaires list and came in number 79 overall, with a net worth of $10.3 billion, up from $6.5 billion in 2010. According to Forbes, the Ofer family owns a "vast global shipping empire, plus interests in banking an real estate." Ofer currently lives in Monte Carlo, Monaco.
Coming in 162 on the overall list, Netanya resident Beny Steinmetz came in second for Israelis. His net worth, valued at $6 billion was made mostly in the mining, diamonds, and real estate businesses.
Shari Arison was the richest Israeli woman on the list. Coming in 200th place overall, and third for Israelis, the Tel Aviv resident was valued at $5.1 billion, with inheritances from $75 billion (assets) Bank Hapoalim and infrastructure company Housing & Construction. She also has stakes in Carnival Cruise.
A total of 16 Israelis made it to the Forbes billionaires list, which was topped by Mexican telecom mogul Carlos Slim Helu and family ($74 billion), US citizen Bill Gates (Microsoft, $56 billion), and US citizen Warren Buffet (Berkshire Hathaway, $50 billion).
Swiss media: Geneva airport refuses to refuel Iranian plane
By BENJAMIN WEINTHAL, JERUSALEM POST CORRESPONDENT
LAST UPDATED: 05/24/2011 12:06
US denies ‘Die Welt’ report that Tehran building missile base in Venezuela.Photo: Ronen Shnidman
BERLIN – The Swiss daily NZZ has reported that the international airport in Geneva is refusing to refuel Iran Air flights.
Anton Kohler, a spokesman for the Federal Office of Civil Aviation (FOCA), which is responsible for aviation development and the supervision of civil aviation activities in Switzerland, told the Swiss wire service SDA that “at this time aircraft from Iran Air will no longer be refueled at Geneva's airport.”
Kohler declined to comment on whether the move was connected with sanctions against Iran over its nuclear program and violation of UN sanctions. He said Swiss authorities were seeking a “pragmatic solution” and that Iran Air could refuel in other countries, such as Serbia, until a remedy was found.
Airports in Holland and Vienna have already refused to provide fuel to Iran Air planes.
Meanwhile, the US has dismissed the accuracy of a report in the German daily Die Welt that said Iran was planning to build a missile base in Venezuela and was gearing up to begin construction.
“We have no evidence to support this claim and therefore no reason to believe the assertions made in the article are credible,” the State Department said in connection with the report.
CNN also quoted Venezuelan Foreign Minister Nicolas Maduro, who termed the allegations an “extravagant lie.”
Israeli Foreign Minister Avigdor Lieberman told the news network that Israel had not verified the allegations, but he described the report as “very serious.”
“It would be a military intervention in a Latin country, a development without precedent," he said.
Shipping surge buoys Zim
By IRIT AVISSAR
LAST UPDATED: 11/13/2010 21:59
Financial recovery, cost-cutting measures and a sell-off of assets enabled Zim to meet targets, and it even made an operating profit in the second quarter of 2010.Photo: Courtesy
‘Just as no one anticipated the crisis, no one expected the recovery and return to these levels. It was much stronger than we expected,” Zim Integrated Shipping Services Ltd.
CEO Rafi Danieli told Globes. “In conversations with our colleagues, no one expected such a recovery. But when there is such strong volatility, there is concern that a powerful correction will follow.”
Just a year ago, Zim, a wholly-owned subsidiary of Sammy and Idan Ofer-controlled Israel Corporation, was in the throes of the worst crisis in its history. The company was hit by a confluence of a severe crisis in global shipping and heavy debts, which threatened to sink it under a debt burden of $800 million.
In the wake of the complex settlement with scores of creditors to restructure billions of dollars in debt, Zim embarked on a new route based on a new strategic plan. Although the company initially missed the plan’s targets, financial recovery, cost-cutting measures and a sell-off of assets has now enabled Zim to meet the targets, and it even made an operating profit in the second quarter of 2010.
Zim expects even better results for the third quarter, including an operating profit of $100m., compared with an operating loss of $153m. for the corresponding quarter of 2009.
On Sunday, Zim sold its stake in the Port of Lagos’s Tin Can Island Container Terminal for $154m.
Globes: Do you intend to sell more assets? Danieli: “We have no plans for more sales at this time. This sale was planned for 2011, but we were able to bring it forward and make it this year.
Do you have holdings in other terminals? “We have holdings in terminals in Spain and the Netherlands, but these are both very important holdings, and we won’t sell them.
Even in the sale of the Nigerian terminal, we created a deal structure that could actually expand our operations at it.”
If you are planning no more sales, does this mean that the cutbacks are over? “I don’t like the word cutbacks. It’s always possible to continue to become more efficient, so that the company is under constant pressure to streamline. We’ve undertaken many measures, some of which are still under way.
We were under pressure to streamline in view of our financial results, but the tension should be kept even when the results improve, so as not to accumulate fat.”
When times were good, Zim considered an IPO on the Hong Kong Stock Exchange at a company value of $1.5 billion, but the company missed the boat and failed to raise capital before the crisis hit.
Although the crisis caused Zim to defer the IPO, Danieli has not ruled it out.
“We haven’t dropped the idea of an offering, and we definitely haven’t neglected it,” he said.
“We suspended the plan because of the crisis, but the rationale behind the IPO is still valid.
When the capital market and shipping industry allow it, we’ll reconsider an IPO.”
Has the shipping industry returned to normal? “The general trend in the industry is positive, but reservations are warranted, and note that the economy has not yet returned to its previous levels, so we have to look at the future with caution.
“In terms of activity, we haven’t returned to the level of 2008, and we won’t get back to that scale of business anytime soon. However, in terms of business and deployment, we’ve opened two new important shipping routes and we have plans for changes and development.
The current infrastructure is more efficient and solid for the future, thanks to changes in our debt structure and changes and reduction in unprofitable activities. The infrastructure for the company’s future activity is more solid now.”
Which markets have had strong recoveries? “Asia and Europe remain strong markets, and they are the shipping industry’s growth engines. The American market has also shown strong recovery, although it is still in crisis.”
Europe is struggling in a deep recession. How can it affect the shipping industry? “The crisis caused volatility, but in terms of trade, activity is still extensive.”
'Die Welt': Iran building rocket bases in Venezuela,
By BENJAMIN WEINTHAL, JPOST CORRESPONDENT
LAST UPDATED: 05/17/2011 01:41
German paper says Iranians paid cash to build mid-range missile launch pads on Paraguana Peninsula; Iranian engineers visited site in Feb.
BERLIN – The Iranian government is moving forward with the construction of rocket launch bases in Venezuela, the German daily Die Welt wrote in its Thursday edition.
Venezuelan President Hugo Chavez is Teheran’s most important South American ally.
Iran is building intermediate-range missile launch pads on the Paraguaná Peninsula, and engineers from a construction firm – Khatam al-Anbia – owned by the Revolutionary Guards visited Paraguaná in February. Amir al-Hadschisadeh, the head of the Guard’s Air Force, approved the visit, according to the report. Die Welt cited information from “Western security insiders.”
The rocket bases are to include measures to prevent air attacks on Venezuela as well as commando and control stations.
The Iranian military involvement in the project extends to bunker, barracks and watch tower construction. Twenty-meter deep rocket silos are planned. The cost of the Venezuelan military project is being paid for with Iranian oil revenue. The Iranians paid in cash for the preliminary phase of the project, which amounted to “dozens of millions” of dollars, Die Welt wrote.
The Paraguaná Peninsula is on the coast of Venezuela and is roughly 120 kilometers from America’s main South American partner, Colombia.
According to Die Welt, the clandestine agreement between Venezuela and Iran would mean the Chavez government would fire rocket at Iran’s enemies should the Islamic Republic face military strikes.
Meanwhile the German press agency (DPA) reported on Friday that Germany will not contest the placement of the Hamburg- based European- Iranian Trade Bank (EIH) on the EU sanctions list at the end of the month. The US Treasury Department sanctioned the EIH last year, saying it was one of the most important institutions in Europe for financing Iran’s missile and nuclear proliferation programs. Germany was the subject of criticism from American, French, British and Israeli officials because it refused to shut the EIH.
The EIH plays a crucial role in facilitating financial transactions for midsize German firms that are active in Iran. German- Iranian total trade amounted to over 4 billion euros in 2010, making German Iran’s No. 1 EU trade partner.
UN: Iran, North Korea trading missile technology
LAST UPDATED: 05/14/2011 20:21
Confidential United Nations report says illicit transfers made through third country - several diplomats implicate China.
NEW YORK - North Korea and Iran appear to have been regularly exchanging ballistic missile technology in violation of UN sanctions, according to a confidential United Nations report obtained by Reuters on Saturday.
The report also said that the illicit technology transfers had "trans-shipment through a neighboring third country." That country was China, several diplomats told Reuters on condition of anonymity.
The report was submitted to the UN Security Council by a UN Panel of Experts, a group that monitors compliance with UN sanctions imposed on Pyongyang after it conducted two nuclear tests in 2006 and 2009.
The UN sanctions included a ban on trade in nuclear and missile technology with North Korea, as well as an arms embargo. The UN measures also banned trade with a number of North Korean firms and called for asset freezes and travel bans on a number of North Korean individuals.
"Prohibited ballistic missile-related items are suspected to have been transferred between the Democratic People's Republic of Korea (North Korea) and the Islamic Republic of Iran on regular scheduled flights of Air Koryo and Iran Air," the report said.
"For the shipment of cargo, like arms and related materiel, whose illicit nature would become apparent on any cursory physical inspection, (North) Korea seems to prefer chartered cargo flights," it said.
It added that the aircraft tended to fly "from or to air cargo hubs which lack the kind of monitoring and security to which passenger terminals and flights are now subject."
Several Security Council diplomats said that China was unhappy about the report. Beijing has prevented the publication of expert panel reports on North Korea and Sudan in the past. Earlier this week, Russia took similar steps to suppress an equally damning expert panel report on Iran.
'Russia blocks UN report on Iran arms sales to Syria'
LAST UPDATED: 05/13/2011 03:50
After Reuters obtains report, Western envoys say weapon deliveries to Syria were to be passed on to Lebanese, Palestinian terrorists.Photo: Stringer Iran / Reuters
UNITED NATIONS - Russia is attempting to suppress a United Nations report that says Iran has been breaking a UN arms embargo by shipping weapons to Syria, Western diplomats said on Thursday.
"Russia has objected to the publication of the report as an official Security Council document," a council diplomat told Reuters on condition of anonymity. Several other diplomats confirmed it.
"It's obviously an attempt to protect (Syrian President) Bashar Assad," who is coming under increasing international pressure over his violent crackdown on anti-government protesters, another council diplomat said.
The confidential report, obtained by Reuters, said most of Iran's breaches of the embargo have been deliveries of weapons to Syria, which Western diplomats say were to be passed on to Lebanese and Palestinian militants.
The report by the UN Security Council's so-called Panel of Experts, a newly formed committee that reports on compliance with four rounds of UN sanctions imposed on Iran for refusing to halt its nuclear enrichment program, also says Tehran flouts the sanctions as it continues to develop its atomic program.
Diplomats said Russia offered a procedural justification for objecting to the publication of the report -- it should first be discussed by the Security Council's Iran sanctions committee before being released to the public.
"Eventually they'll have to give in but we don't know how long it will take," a diplomat said.
Russia is able to block the Iran report because decisions about such reports are made by consensus among the 15 members of the Security Council.
Russia's decision to block the report comes as diplomats said Britain and France were attempting to revive plans to have the Security Council condemn Syria for its crackdown against demonstrators.
A previous attempt failed after Russia, China and India objected to the proposed condemnation.
A spokesman for Russia's UN mission did not immediately respond to a request for comment.
China has prevented the publication of similar U. expert panel reports on North Korea and Sudan, two countries that Beijing routinely tries to shield from Security Council criticism, for as long as half a year.
Russia has long acted as a kind of protector for Iran on the council, working hard to dilute the four sanctions resolutions on Iran between 2006 and 2010 before voting in favor of them. It also has close commercial ties to the Islamic Republic.
A senior Russian diplomat was quoted by Russian news agencies as saying on Thursday that Iran's Russian-built Bushehr nuclear power plant will be fully operational within weeks.
The New Israel: Land of Milk and Money - Page 2
was worth an estimated $5.6 billion, and Yuli and Sammy Ofer, whose local Ofer Brothers industrial conglomerate was valued at $1.9 billion.
April 16, 2000 - Business - Article
The New Israel: Land of Milk and Money
was worth an estimated $5.6 billion, and Yuli and Sammy Ofer, whose local Ofer Brothers industrial conglomerate was valued at $1.9 billion.
At the moment the drilling is only planned to begin in 2012, and this in any event is going to be covered by the Ofer brothers funding. This is reinforced by the fact ...
Form: 6-K, Received: 12/21/2011 16:34:30 - Markets
These costs are expected to be covered by $ 28 million payable by Ofer brotherswho acquired 50% of the working interest from our subsidiary, ...
BONTAN CORP INC (Form: 424B3, Received: 12/21/2011 16:37:48)
These costs are expected to be covered by $ 28 million payable by Ofer brotherswho acquired 50% of the working interest from our subsidiary, ...
BONTAN CORP INC (Form: 424B3, Received: 12/21/2011 16:39:13)
These costs are expected to be covered by $ 28 million payable by Ofer brotherswho acquired 50% of the working interest from our subsidiary, ...
These costs are expected to be covered by $ 28 million payable by Ofer brotherswho acquired 50% of the working interest from our subsidiary, IPC Cayman.
These costs are expected to be covered by $ 28 million payable by Ofer brotherswho acquired 50% of the working interest from our subsidiary, IPC Cayman.
...effective March 31, 2004, Tower may be deemed part of a group of borrowers comprised of the Ofer Brothers Group, the Israel Corporation Ltd. (Israel Corp.) ...
These costs are covered by the deal with Ofer brothers to whom IPC Cayman sold 50% of our interest for $ 28 million dollar which they agreed to spend on the ...
At the moment the drilling is only planned to begin in 2012, and this in any event is going to be covered by the Ofer brothers funding. This is ...
At the moment the drilling is only planned to begin in 2012, and this in any event is going to be covered by the Ofer brothers funding. This is ...
September 14, 2011, New York Times, Israeli Company Taken Off Iran Trade Blacklist, by Isabel Kershner,
JERUSALEM — The State Department on Tuesday removed Ofer Holdings Group Ltd., a leading Israeli company, from a sanctions blacklist for trade with Iran, reversing a step taken four months ago that dealt a blow to the reputation and businesses of the Ofer family, one of the richest in Israel.
In May, the State Department announced that it was imposing sanctions on a company it identified as the Ofer Brothers Group and a company based in Singapore, Tanker Pacific, which is under indirect ownership of the Ofer family, for what it called their roles in a September 2010 transaction that provided a tanker valued at $8.65 million to the Islamic Republic of Iran Shipping Lines.
The State Department determined that the companies had failed to exercise due diligence in the sale of the tanker to buyers acting as front companies for Iran. Israel was acutely embarrassed by the announcement, which came as Prime Minister Benjamin Netanyahu was praising the United States in a speech in Washington for imposing tougher sanctions on Iran for its nuclear activities.
Representatives of the Ofer family at the time described the accusations as a misunderstanding.
Amid apparent confusion about the branches of the Ofer business empire, State Department officials later identified the parent of Tanker Pacific as the Ofer Holdings Group — not the Ofer Brothers Group, which does not exist.
And then on Tuesday, the State Department removed the Ofer Holdings Group from the sanctions list. It upheld the sanctions against Tanker Pacific and added two other entities, all indirectly owned by the Ofer family, that it said were responsible for the sale of the tanker to Iran. But the family was not considered responsible for the business decisions.
In a statement on Tuesday, the Ofer Holdings Group said, “This action clears our name.”
It added: “Today’s formal clarification makes it clear that none of Ofer Holdings Group Ltd., its subsidiaries or any other Israeli entity is subject to sanctions under the Iran Sanctions Act.”
The Ofer family said in a separate statement that it was “relieved” by the State Department’s clarification.
Tanker Pacific said a review of the transaction by outside counsel confirmed that the company had been “misled by the buyers.”
Sammy Ofer, whose branch of the family controls the Ofer Holdings Group, died in early June after an illness, at age 89, at the height of the media storm over the alleged dealings with Iran. His brother and long-time business partner, Yehuda Ofer, widely known as Yuli, died at his home near Tel Aviv on Thursday , according to The Associated Press, citing a family statement. He was buried on Tuesday. He was 87.
Calls to investigate Ofer Brothers' holdings following State Department report. Company claims it did not know its buyers had ties to Iran
Jerusalem Post; May 26, 2011; RON FRIEDMAN NADAV SHEMERRON FRIEDMAN and NADAV SHEMER; 700+ words ...26-2011 Calls to investigate Ofer Brothers' holdings following State Department...sanctions on Israeli company the Ofer Brothers Group for its role in the sale...company's Israeli holdings. The Ofer Brothersgroup was identified as one of..
Gov't silence breeds speculation on Ofer Brothers affair. US blogger quotes Israeli politician as saying ships docked in Iran to allow Mossad agents to sneak ashore
Jerusalem Post; June 2, 2011; LAHAV HARKOV NADAV SHEMER RON FRIEDMANLAHAV HARKOV, NADAV SHEMER and RON FRIEDMAN; 700+ words ...silence breeds speculation on Ofer Brothersaffair. US blogger quotes Israeli...sanctions on Israeli company the Ofer Brothers Group over the sale of an oil...him that ships belonging to the Ofer brothers had docked in Iranian ports in...
Ofer brothers abandon project
Jerusalem Post; July 23, 2004; MATI WAGNER; 520 words ...Post 07-23-2004 Headline: Ofer brothersabandon projectByline: MATI WAGNEREdition...year and a half of delays, the Ofer brothers, Sami and Yuli, notified Israel...annulling the contract with OPC, the Ofer brothers' firm contracted to build the...
Ofer Brothers, others face Iranian sanctions.(Update)
Marine Log; June 1, 2011; 367 words ISRAEL'S OFER BROTHERS GROUP and others "should have known...Tanker Pacific (Singapore),Ofer Brothers Group (Israel), Associated Shipbroking...that Tanker Pacific (Singapore), Ofer BrothersGroup (Israel), and Associated...
Ofer Brothers Investments Go For Luxury.
Israel Business Today; January 31, 1999; 389 words ...a shortage of hotel rooms in the city. Ofer BrothersInvestments are planning to meet the increasing...chain currently manages hotels owned by Ofer BrothersInvestments in Israel. Owners of OferBrothers Investment, Yuli and Sam Ofer, see Hungary...
Ofer brothers to build private power station
Jerusalem Post; October 20, 2004; TAL MUSCAL; 460 words ...Post 10-20-2004 Headline: Oferbrothers to build private power stationByline...megawatt private power station by the Ofer Brothersand partners at Mishor Rotem for NIS 1.23 billion. Until now the OferBrothers and senior Treasury officials.
Ofer Brothers merging to form world's largest cruise group
Jerusalem Post; November 21, 2001; SHARON BERGER; 572 words ...Post 11-21-2001 Headline: OferBrothers merging to form world's largest...Caribbean Cruises, in which the local Ofer Brothers Group - a privately held company...shipping interests held by the Ofer Brothers, in addition to Royal Caribbean...
Ofer brothers divide empire
Jerusalem Post; September 30, 2002; ZEV STUB; 511 words 00-00-0000 Headline: Ofer brothers divide empire Byline: ZEV STUB...September 30, 2002 -- TheOfer brothers, who announced their plans to...assets. Yuli Ofer, chairman of Ofer Brothers Properties Ltd., said he will...
Mystery note halts Knesset debate on Ofer Brothers trade with Iran. Nachman Shai fumes at outside intervention into Knesset affairs. Ofer representatives decline to join meeting. Gov't takes first ste
Jerusalem Post; June 1, 2011; RON FRIEDMAN LAHAV HARKOV NADAV SHEMERRON FRIEDMAN, LAHAV HARKOV and NADAV SHEMER; 700+ words ...Mystery note halts Knesset debate on Ofer Brothers trade with Iran. Nachman Shai...government's behavior regarding the Ofer Brothersaffair, only managed to raise...oil tanker jointly owned by the OferBrothers Group and Singapore-based Tanker...
Israeli company sanctioned by US for ties to Tehran. Ofer Brothers Group among seven companies boycotted under Iran Sanctions Act
Jerusalem Post; May 25, 2011; Reuters; 477 words ...sanctioned by US for ties to Tehran.Ofer Brothers Group among seven companies boycotted...companies is based in Israel. The Ofer BrothersGroup, a family-owned business...believe that Tanker Pacific and Ofer Brothers Group failed to exercise due diligence...
Yozma goes to Ofer Brothers. (Yozma Venture Capital Ltd.; Ofer Brothers Investments Ltd.)
Israel Business Today; March 15, 1997; 285 words ...Yozma Venture Capital Ltd. to Ofer BrothersInvestments Ltd. for NIS 50 million...The decision to sell Yozma to Ofer Brothers was reached following the latter...highest bid in a government tender. Ofer Brothers is already a major shareholder..
Ofer Brothers to invest $40m. in Hungary
Jerusalem Post; February 18, 1998; DAN GERSTENFELD; 336 words ...Jerusalem Post 02-18-1998 The Ofer Brothers Investment group plans to put...Simon Roth, who represents the Ofer Brothers in Hungary, as saying that the...commercial center, Duna Plaza.Ofer Brothers together with the Lend and Development...
Ofer Brothers reach compromise on suits
Jerusalem Post; February 14, 1995; Galit Lipkis Beck; 386 words ...District Court yesterday approvedOfer Brothers Properties' NIS 10.5 million...Electric Wire & Cable Co., anOfer Brothers' subsidiary. In October 1993...approved by the shareholders," said Ofer BrothersProperties chairman Yuli Ofer..
Ofer Brothers goes for Pekker.(Pekker Solpek)
Israel Business Today; October 15, 1995; 264 words Ofer Brothers is to pay 12.7 million in return for...Pekker Steel subsidiary Pekker Solpek. OferBrothers will pay the sum of $5 million in 1995...be effected with the first payment by Ofer Brothers, rather than when the entire sum is.
Ofer brothers to bid for Zim
Jerusalem Post; January 12, 1999; DAN GERSTENFELD; 494 words ...Jerusalem Post 01-12-1999 The Ofer Brothers Investment Group will bid to acquire...spokesman said yesterday. The Ofer brothers have expressed in the past interest...Industries, and Clal Israel. The Ofer brothers, Sammy and Yuli, are considered...
The Ofer Brothers Investment Group will bid to acquire the holdings of the Israel Corporation in Zim Israel Navigation Company if the shipping company is offered for sale, a company spokesman said yesterday.
The Ofer brothers have expressed in the past interest in acquiring control of the shipping company, which is jointly controlled by the Israel Corp. and the government.
A spokesman for the company yesterday said the group had not yet been approached by the Israel Corp., but if such a request is submitted the company will view it favorably.
It is widely believed that if the Eisenberg Group succeeds in selling its 53.26 percent stake in Israel Corp to Canada's Potash Corporation of Saskatchewan, Zim would be offered for sale.
The Eisenberg Group confirmed on Sunday that it is holding negotiations with the Canadian company,the world's largest potash manufacturer, on the sale of the Israel Corp. The Canadian company is only interested in the holdings of the Israel Corp. in Israel Chemicals, the country largest chemical manufacturer, and is therefore expected to divest its other holdings, including its 49% holdings in Zim, 26% in Oil Refineries, and 16% in Tower Semiconductors.
Meanwhile, former finance minister Avraham Shohat yesterday said that the government might block the deal between Eisenberg and Potash. Shohat, who as finance minister was in charge of selling the government's holdings in Israel Chemicals to the Israel Corp., said that the golden share which is held by the government allows it to disapprove such a deal.
The Israel Corp., is Israel's third largest holding company, after Koor Industries, and Clal Israel.
The Ofer brothers, Sammy and Yuli, are considered as one of the most prominent Israeli business families. Among others, they control United Mizrahi Bank.
The group is also very active in investments in Eastern Europe and announced last week the purchasing of a building in the center of Budapest which will be transformed into a luxurious hotel at an investment of some $60 million.
BRIEF: Ofer Brothers establishes Ofer Media: Ofer Media will invest in content, media, and communications.
Globes; August 13, 2007; 375 words ...franchisee Reshet Television, OferBrothers is extending its business interests...TASE: ) executive VP Avi Zvi. Ofer Brothers managing director Udi Angel said...with high growth potential." Ofer Brothers also announced that it would be..
Ofer brothers like Hungary.
Israel Business Today; February 28, 1998; 212 words The Ofer BrothersInvestment Group has recently bought a 9.2 hectare site in north Budapest...investment in the project is to cost an estimated $40 million. The Ofer Brothers already own a commercial center in Budapest -- Duna Plaza -- which...
Ofer Brothers invests $30m. in office building
Jerusalem Post; December 12, 1994; Galit Lipkis Beck; 700+ words Galit Lipkis Beck Jerusalem Post 12-12-1994 OFER Brothers Properties, in equal partnership with Ayalot Investments...commercial space. Ofer Magor, a company jointly owned by Ofer Brothers and Magor, which is owned by Oded Ronen, plan to complete..
Israeli Ties To Iran.(Ofer Brothers Group)(Brief article)
APS Diplomat News Service; June 6, 2011; 385 words Israel's billionaireOfer brothers face a backlash in the Jewish state as a shipping group forming...gained from trading with Iran came as a shock to Israelis). The Ofer Brothers Group was in May named by the US State Department as one of seven...
Ofer Brothers: Zelekha in conflict of interests at EAPC: OPC has petitioned the High Court of Justice to abrogate decisions relating to EAPC.
Globes; August 21, 2007; 454 words Byline: Noam Sharvit and Lior Baron Aug. 21--Ofer (Power Stations) Ltd. (OPC), a joint venture of OferBrothers and Siemens AG (NYSE:SI; XETRA:SIE) today petitioned the High Court of Justice against the state, Accountant...
OFER BROTHERS AND BG PREPARE POWER STATION IN ASHKELON.
Info-Prod Research (Middle East); June 23, 2004; 211 words According to Maariv International, Ofer Brothers and British Gas are escalating their joint ventures. In a meeting yesterday with Minister of Infrastructure, Yosef Paritzky...
Ofer Brothers Pull The Rug Out From Under Potash Corporation Of Saskatchewan And Take Control Of The Israel Corporation.
Israel Business Today; January 31, 1999; 391 words ...Eisenberg did not want to waste. As with most other investments, timing means profit. Because their timing was right Ofer Brothers already have made at least $20 million on an investment they made only weeks ago.
ISRAEL: OFER BROTHERS GROUP TO EXPAND.(Brief Article)
Info-Prod Research (Middle East); March 7, 2000; 181 words According to Israel Line (Mar 6), the Ofer Brothers Group has unveiled the founding of a $50 million investment company that would concentrate on investment in biotechnology, THE JERUSALEM POST reported. The new company will complement the groups' other investment fields.
ISRAEL: OFER BROTHERS AND BG PREPARE POWER STATION IN ASHKELON.(British Gas )(Brief Article)
Info-Prod Research (Middle East); June 23, 2004; 220 words According to Maariv International, Ofer Brothers and British Gas are escalating their joint ventures. In a meeting yesterday with Minister of Infrastructure, Yosef Paritzky...
Amot gets high-tech site. (Amot Investments acquires Ofer brothers industrial site, Herzliya, Israel)
Israel Business Today; January 24, 1992; 189 words Amot Gets High Tech Site The Bank Hapoalim real estate subsidiary Amot Investments has acquired from the Ofer brothers, 50 percent of a site in the industrial zone of Herzliya. The site is assigned for high-tech industry and sources estimate...
Investors told to submit Taro bids by Friday: Perrigo, Ofer Brothers, and Israel Cold Storage are potential bidders for the company.
Globes; January 9, 2007; 509 words ...decide which it prefers. The main candidates are Perrigo Co. (Agis Industries) (Nasdaq:PRGO; TASE:PRGO),Ofer Brothers subsidiary Ofer Hi Tech Ltd., Israel-Israel Cold Storage Supply Co. Ltd. (TASE: CDSS), and foreign companies...
Arison, Ofer brothers among 'Forbes' 200 billionaires
Jerusalem Post; June 21, 1999; MARILYN HENRY; 448 words MARILYN HENRY Jerusalem Post 06-21-1999 NEW YORK - Bank Hapoalim majority shareholder Ted Arison, and the Israel Corporation's Sammy and Yuli Ofer, are among the world's "working rich" billionaires, according to the 1999 ranking of billionaires by Forbes Global magazine, which reported that the
Israeli tycoon at heart of Iran trade scandal dies.
The Daily Star (Beirut, Lebanon); June 4, 2011; 700+ words ...businessman Sammy Ofer, whose company Ofer Brothers is embroiled in a scandal over...businessman Sammy Ofer, whose company Ofer Brothers is embroiled in a scandal over...was one of the founders of the Ofer Brothers Group, died early Friday after...
AJC MIDEAST BRIEFING: THE CHILDREN OF THE COBBLER GO BAREFOOT.
States News Service; June 6, 2011; 700+ words ...a large Israeli company, the Ofer Brothers Group, and its Singapore-based...Tanker Pacific (Singapore), Ofer Brothers Group (Israel), and Associated...believe that Tanker Pacific and Ofer Brothers Group failed to exercise due diligence...
Jerusalem Post; November 2, 2011; SETH J FRANTZMAN; 700+ words ...months. By most accounts the Ofer brothers, quiet and unassuming but massively...would become the basis for the Ofer Brothers Group. As Nehemia Shtrasler of...and dabbled in real estate. The Ofer brothers became Israel's wealthiest people...
NGO calls on attorney general to expand investigation on Israeli business ties with Iran. Iranian officials deny trade took place between the countries. Knesset Finance Committee to hold a debate on
Jerusalem Post; May 30, 2011; RON FRIEDMAN; 700+ words ...DailySection: NewsType: NewsThe Ofer Brothers Group is not alone. Quality...it would place sanctions on the Ofer Brothers Group for its role in the September...by the State Department, the Ofer Brothers Group, together with Singapore...
Report: Israeli Shipping Firm Docked Oil Tankers in Iran.
Israel Faxx; May 30, 2011; 700+ words ...it had imposed sanctions on theOfer Brothers Group for allegedly selling Iran an oil tanker. Iran and OferBrothers have vehemently denied the report...believe that Tanker Pacific andOfer Brothers Group failed to exercise due diligence...
Ofer Bros. completes Israel Corp. takeover
Jerusalem Post; April 15, 1999; DAN GERSTENFELD; 516 words ...Jerusalem Post 04-15-1999 Ofer Brothers yesterday concluded the purchase...replaced by representative of Ofer Brothers. The company announced that Idan...acquisition of the Israel Corp., but Ofer Brotherssucceeded in concluding the deal...
Billionaire Sammy Ofer to be laid to rest today. Shipping magnate, who died Friday, spent final weeks embroiled in controversy over allegedly selling tanker to Iran
Jerusalem Post; June 5, 2011; NADAV SHEMER LAHAV HARKOVNADAV SHEMER and LAHAV HARKOV Jerusalem Post staff and Reuterscontributed to this report.; 700+ words ...Trumpeldor Cemetery. He was 89. OferBrothers, established by Sammy and Yuli...Services, a subsidiary of the OferBrothers Group, is Israel's largest...Hillary Clinton announced that the OferBrothers Group was one of seven companies...
SEVEN COMPANIES SANCTIONED UNDER THE AMENDED IRAN SANCTIONS ACT.
States News Service; May 24, 2011; 700+ words ...Tanker Pacific (Singapore), Ofer Brothers Group (Israel), Associated...Tanker Pacific (Singapore), Ofer Brothers Group (Israel), and Associated...believe that Tanker Pacific and Ofer Brothers Group failed to exercise due diligence...
US asked Israel to warn against business with Iranian shipping companies in.
Kuwait News Agency (KUNA); June 5, 2011; 471 words ...sanctions were imposed against Ofer Brothers following the sale to Iran of a tanker owned by a subsidiary of Ofer Brothers.The cable, which was sent to...was about to impose sanctions on Ofer Brothers, but did not approach the administration...
Union Bank acquires 5% of Melisron
Jerusalem Post; September 9, 2004; ZEV STUB; 459 words ...investment company Melisron, from the Ofer Brothers group for NIS 32.5 million...Bialik, as well as 30% of the Ofer Brothers unit that runs the Rananim mall...Eastern Europe by acquiring the Ofer Brothers' real estate operations there...
OPC reexamines power station
Jerusalem Post; January 27, 2003; TAL MUSCAL; 700+ words ...OPC-Ramat Hovav, owned by the Ofer brothers, is reexamining various aspects...the company said Sunday. The Ofer brothers, who have a 48.9-percent...NIS 37 billion. According to an Ofer Brothers spokesperson, the firm has not...
Forward; January 22, 1999; 700+ words ...Chemicals, the Israeli shipping firmOfer Brothers put in $330 million bid for the...Dead Sea. According to reports,Ofer Brothers plans on introducing strategic...fell when the company went toOfer Brothers, it seemed that the company...
U.S. imposes sanctions on 7 firms linked to Iran
The Washington Post; May 25, 2011; Joby Warrick; 700+ words ...provide an oil tanker to Iran last fall. The company, Ofer Brothers Group, denied the allegation, saying in a prepared...had an impact on the their economy. In addition to Ofer Brothers, the companies targeted are the Venezuelan firm Petroleos...
BILLIONAIRES CAUGHT IN IRAN TRADE STORM
The Independent (London, England); June 2, 2011; Catrina Stewart; 700+ words Israel's Ofer brothers are at the centre of allegations involving the security services. Catrina Stewart reports from Jerusalem Ofer BrothersGroup, one of Israel's most powerful corporations, is no stranger...
More vigilance on Iran
Jerusalem Post; May 29, 2011; 700+ words ...to find nationals of other countries. Moreover, the Ofer Brothers Group, named by the Americans, is one of Israel...s specific accusation is that "Tanker Pacific and Ofer BrothersGroup failed to exercise due diligence and did not heed...
New rules published on entities dealing with Iran
Jerusalem Post; July 11, 2011; NADAV SHEMER; 458 words ...in late May when the US State Department alleged that Ofer Brothers - established by Yuli Ofer and the late Sammy Ofer in...last September, violating international sanctions. Ofer Brothers Group denied it ever sold ships to Iran. E Several...
No so kosher
Jerusalem Post; September 9, 2011; GREER FAY CASHMAN; 700+ words ...the commercial properties and office space branch of Ofer Brothers, and Gad Ze'evi, who heads Israel Malls (which built the Haifa Grand Canyon, owned by Ofer Brothers), plan to open a gallery of modern art in the mall...
Buying into culture
Jerusalem Post; September 9, 2011; GREER FAY CASHMAN; 700+ words ...the commercial properties and office space branch of Ofer Brothers, and Gad Ze'evi, who heads Israel Malls (which built the Haifa Grand Canyon, owned by Ofer Brothers), plan to open a gallery of modern art in the mall...
The Business Scene
Jerusalem Post; August 2, 2005; GREER FAY CASHMAN; 700+ words ...Ofer had sold him the Israel Corporation before the Ofer brothers acquired the government's share in ZIM Shipping...600 million, and shook hands on the transaction. The Ofer brothers subsequently reneged. When Globes asked the brothers...
New Howard Johnson Hotel
Israel Business Today; July 15, 1998; 293 words ...project will be carried out in partnership with the construction and investment company Ofer Brothersand developer Roni Yitzhaki, who own the land. Both Ofer brothers and ILD will pay $1. 17 million for their share of the land. The first Howard...
Official Rejects Reports on Israel's Trade with Iran.
FARS News Agency; May 28, 2011; 602 words ...international companies, including a leading Israeli company, Ofer Brothers Group, claiming that they had activities in Iran's energy sector. "We believe that Tanker Pacific and OferBrothers Group failed to exercise due diligence and did not heed...
Embarrassed Israel ends trade with Iran.
Iran Times International (Washington, DC); July 1, 2011; 567 words ...Islamic Republic. [ILLUSTRATION OMITTED] Israel's Ofer Brothers Group owns a major international shipping business that...with Teheran. According to the US State Department, Ofer Brothers and a subsidiary, the Singapore-based Tanker Pacific...
ICL TO CHANGE ITS PLANT TO NATURAL GAS.
Info-Prod Research (Middle East); June 29, 2004; 206 words ...cost of NIS 40-50 million. ICL is controlled by the Ofer Brothers through the Israel Corporation. After establishing...natural gas power plants together with British Gas, the Ofer Brothers are anticipated to become the second-largest consumers...
US lifts sanctions on Israeli firm in Iran sale
AP Online; September 13, 2011; ANNE GEARAN; 700+ words ...s dealings.The new action lifts penalties on the "Ofer Brothers Group," a corporate name the State Department applied...buying the ship.The original sanctions had banned the Ofer brothers and their Singapore affiliate Tanker Pacific from obtaining...
Israel Real Estate Companies Going To America
Israel Business Today; August 15, 1998; 285 words ...construction market to help it maintain profitability. Ofer brothers another large Israeli real estate company has also come to the same conclusion. Ofer Brothers, are examining a building project in Las Vegas. If...
ISRAEL: ICL TO CHANGE ITS PLANT TO NATURAL GAS.
Info-Prod Research (Middle East); June 29, 2004; 209 words ...cost of NIS 40-50 million. ICL is controlled by the Ofer Brothers through the Israel Corporation. After establishing...natural gas power plants together with British Gas, the Ofer Brothers are anticipated to become the second-largest consumers...
DEPARTMENT OF STATE: VICTORIA NULAND SPOKESPERSON DAILY PRESS BRIEFING SEPTEMBER 13, 2011.
States News Service; September 13, 2011; 700+ words ...Representative Blair Palestinian Bid for Statehood at the UN ISRAEL Clarification to May 24 Announcement on Sanctions on the Ofer Brothers Group / Identifies Specific Entities Subject to Sanctions CUBA Governor Richardson's Travel to Cuba / Has Not Seen...
Zim moves Haifa hub to Italy
Jerusalem Post; August 19, 2004; TAL MUSCAL; 700+ words ...company into two entities; one dealing entirely with international operations. Israel Corp., controlled by the Ofer Brothers, holds 97.5% of Zim, which was valued at NIS 1.04b. or $292m. Keywords: Copyright 2004 Jerusalem Post...
The Jerusalem Report; March 19, 2007; 403 words ...government in a mid-February privatization sale, at a company value of $1.57 billion. The sale, in which the Ofer brothers' Israel Corp. is the major shareholder, completes the privatization of Israel's two oil refineries: The Ashdod...
ECI: The comeback kid
Jerusalem Post; January 21, 2005; YEHEZKEL LAING; 700+ words ...the taking on of $10m.of ECI's debt. Enter the Carmel investment group, which included Shlomo Dovrat and the Ofer brothers. In late 2001, Carmel Ventures took control of 11% of ECI when it bought $50m worth of the company's shares at..
Dovrat, Ofer families to invest $50m. in ECI
Jerusalem Post; December 5, 2001; DAN GERSTENFELD; 623 words ...fund Carmel Ventures - and the Ofer Brothers, who control the Israel Corp...Shlomo Dovrat and Udi Angel, Ofer Brothers CEO, will join ECI's board...president and CEO. Keywords: Ofer Brothers. Koor Industries. Investment..
State to court: Ofer should be put on trial
Jerusalem Post; June 19, 1995; EVELYN GORDON; 501 words ...reason Yuli Ofer and his company, Ofer Brothers Ltd., should be fined for tax...High Court of Justice yesterday. Ofer Brothers, along with 40 other companies...authorities, but 16, including Ofer Brothers, were indicted. Ofer's case...
Ofer execs indicted on suspicion of securities fraud
Jerusalem Post; November 14, 2011; NADAV SHEMER; 349 words ...an indictment against several Ofer Brothers Group executives over an alleged...traded company controlled by the Ofer Brothers Group, and private subsidiaries...use of NIS 30 million from the Ofer Brothers Group account in order to carry...
Business in brief...
Jerusalem Post; July 13, 2001; Sharon Berger, Jerusalem Post Staff; 700+ words ...Group buys 5.5% of Tecnomatix Ofer Brothers High-tech, the technology investment arm of the Herzliya-based Ofer Brothers Group, announced that it has...estimated to be close to $4.85m. Ofer Brothers High-tech paid $9.25 per...
Israeli tycoons under fire for trade with Iran
AP Online; May 31, 2011; AMY TEIBEL; 700+ words ...years: trading with Iran.The Ofer Brothers Group is now facing a widespread...reputation took a major hit when the Ofer Brothers were among seven foreign companies...S. sanctions, which ban the Ofer Brothers and their Singapore subsidiary...
Histadrut gets loan to pay December salaries.
Israel Business Today; January 31, 1998; 350 words ...Development Corp. (ILDC) and Ofer Brothers who will establish a joint company...agreement were informed that ILDC and Ofer Brothers companies would have to pay the...on three properties to ILDC and Ofer Brothers for the loan received.
Ministers vote to prohibit investment in companies that trade with Iran
Jerusalem Post; June 6, 2011; RON FRIEDMAN; 496 words ...DailySection: NewsType: NewsWith the Ofer Brothers affair looming in the background...was over Iran and not over the Ofer brothers. Israel must be in line with...it was placing sanctions on the Ofer Brothers Group and their subsidiary Tanker...
Jerusalem Post; December 18, 1995; Evelyn Gordon, Jerusalem Post Staff, Jennifer Frie; 700+ words ...selling shares in subsidiary Solpack through a private placement to Ofer Brothers Properties. Following the sale, OferBrothers will own 50 percent of Solpack. Ofer Brothers will pay $12.7 million, of which $4.7m. will be cash and the...
A City With a View
Jerusalem Post; March 29, 1995; Galit Lipkis Beck; 700+ words ...to cancel the agreement to sell Ofer Brothers and Melisron land in Rishon Lezion...The authority will pay back Ofer Brothers and Melisron NIS 80 million including...VAT. Some of the malls close to Ofer Brothers and Melisron's intended site...
Israeli tycoon linked to Iran trade dies
The Irish Times; June 4, 2011; MARK WEISS; 334 words ...was the main shareholder in the Ofer Brothers conglomerate which controlled...the US imposed sanctions on the Ofer Brothers group, claiming a subsidiary...seven oil tankers owned by the Ofer Brothers had docked in Iran between 2004...
New bill would mandate jail time, huge fines for investing in firms that trade with Iran. Dagan: The Ofers broke no laws. Top Knesset panel to discuss scandal
Jerusalem Post; June 3, 2011; LAHAV HARKOV RON FRIEDMANLAHAV HARKOV and RON FRIEDMAN Gil Hoffman contributed to thisreport.; 700+ words ...NewsType: NewsIn the wake of the Ofer brothers affair, a new bill prohibiting...said he didn't believe that the Ofer brothers had broken any law when ships...Israeli politician" saying that the Ofer brothers' ships had been used to smuggle...
National Pride.(Barack Obama and Benjamin Netanyahu)
Tablet Magazine; May 27, 2011; Kordova, Shoshana; 700+ words ...Kadima leader Tzipi Livni came in a distant second. The Ofer Brothers Group, owned by Israel's richest family, this week...Singapore-based Tanker Pacific Management subsidiary. Ofer Brothers says the tanker was sold to a Dubai-registered company...
Netanyahu denies authorizing Ofer business ties with Tehran. Gov't committee has yet to produce list of banned companies that deal with Iran
Jerusalem Post; May 31, 2011; RON FRIEDMAN , GIL HOFFMAN, LAHAV HARKOV and NADAV SHEMER Bloombergand Jerusalem Post staff contributed to this report.; 700+ words ...denied ever authorizing or having prior knowledge of the Ofer Brothers Group trading with the Islamic Republic of Iran Shipping...US State Department sanctions placed on the massive OferBrothers company. The Prime Minister's Office did not authorize...
Finance Ministry drafts bill forbidding trade with Iran through third parties
Jerusalem Post; August 15, 2011; LAHAV HARKOV; 488 words ...drafted over two months after it was found that the Ofer Brothers Group had sold an oil tanker to the Republic of Iran...the criticism against Israel that resulted from the Ofer Brothers scandal," Eldad said. "The regulations presented...
Ofer Bros. invest $60m. in Budapest project
Jerusalem Post; January 6, 1999; DAN GERSTENFELD; 430 words DAN GERSTENFELD Jerusalem Post 01-06-1999 Ofer Brothers Investments intends to open the most luxurious hotel...hotels are owned by Ofer's investment company. The Ofer brothers, Sammy and Yuli, are very active in Hungary. Last...
Shipping magnate and top-level entrepreneur Yuli Ofer dies at 87. 'Wherever Yuli sailed, generosity followed in his wake,' PM says
Jerusalem Post; September 13, 2011; NADAV SHEMER Jerusalem Post staff and Globes contributed to thisreport.; 700+ words ...decades, including several public companies - among them Ofer Brothers, Cvalim and Melisron. The family also owns Ofer Shipping, Ofer Real Estate, and Ofer BrothersProperties. Recently, he was involved in a dispute...
New Howard Johnson Hotel.
Israel Business Today; July 15, 1998; 277 words ...project will be carried out in partnership with the construction and investment company Ofer Brothersand developer Roni Yitzhaki, who own the land. Both Ofer brothers and ILD will pay $1. 17 million for their share of the land. The first Howard...
Four groups bid for government holdings in Zim
Jerusalem Post; July 30, 2001; Globes Business News; 553 words ...winner is a leading international shipping company, the Ofer brothers will prefer to remain a partner in Zim while maintaining...shipping interests. If the bid price is high, the Ofer brothers may prefer to sell their stake for cash, which they...
Jerusalem Post; August 29, 2002; Mati Wagner, Zev Stub; 700+ words ...The decision is expected to create 1,000 jobs. The Ofer brothers have agreed to finance 35% of the project, to be built...behalf of OPC-Ramat Hovav, which is owned by the Ofer brothers. Mati Wagner Marani:The budget must be cut Treasury...
Mizrahi Bank to maintain religious orientation - owners
Jerusalem Post; November 30, 1994; GALIT LIPKIS BECK; 696 words ...Central Bottling Co. and businessman Abe Feinberg. The Ofer brothers and their companies control 50% of the consortium...Ofer family's representative and general manager of Ofer Brothers Ships, said he hopes Yuli Ofer will eventually be able...
Israeli Government Selects Two Winners For Biotech Incubators.
BioWorld International; June 12, 2002; 700+ words ...biotech incubators: the Einav group, headed by the Ofer Brothers, and the RAD Bioscience incubator group, headed by...in Nazareth-Illit, a private incubator within theOfer Brothers group, will co-manage the Einav incubator, to be..
Haifa refinery's institutional offering believed successful: The Federman group, Lev Leviev, and Sammy and Idan Ofer are expected to bid in the public tender next Thursday.
Globes; February 12, 2007; 700+ words ...Refineries Haifa, which they owned in part through Ofer Brothers subsidiary Israel Corp. (TASE: ILCO), and they...could therefore buy Oil Refineries Haifa out from under Ofer Brothersand the Federman group. A bidder offering a high price...
Elbit subsidiary purchasing three malls
Jerusalem Post; May 23, 2001; GWEN ACKERMAN; 441 words ...three shopping and leisure centers in Hungary from the Ofer Brothers Group for just under $100 million. "Following this...companies. Keywords: Plaza Centers. Hungary. Business. Ofer Brothers Group. Elbit Medical Imaging Systems. Copyright 2001...
IEC to buy electricity from private supplier
Jerusalem Post; September 3, 2001; TAL MUSCAL; 486 words ...state-owned company said yesterday. Owned by the Ofer brothers, OPC's power plant will be built in Ramat Hovav...and sulfur compounds that lead to acid rain. The Ofer brothers also hold the controlling stake in the Israel Corporation...
Business in brief
Jerusalem Post; January 12, 1998; Dan Gerstenfeld; 307 words ...and Development Corp. (Shikun U'Fituah) and the Ofer Brothers to set up a joint company that will manage the real...that the company eventually plans to go public. The Ofer brothers and the Nimrodi family gave the Histadrut an immediate...
Koor Ind. to bid for Histadrut-owned properties
Jerusalem Post; October 19, 1995; GALIT LIPKIS BECK; 459 words ...consortium made up of Koor Properties, Ashtrom Industries, Ofer Brothersand Magor has submitted a proposal to purchase the Nehardea...each have a 33.3% stake in the consortium, while Ofer Brothers and Magor hold the rest of the shares. Business daily...
Bank Mizrahi controlling shares sold
Jerusalem Post; November 27, 1994; JOSE ROSENFELD; 487 words ...Central Bottling Co. and businessman Abe Feinberg. The Ofer brothers and their companies control 50 percent of the consortium...Central Bottling Co. and businessman Abe Feinberg. The Ofer brothers and their companies control 50 percent of the consortium...
Israeli Group Beats Out PCS in Bid for Israel Chemicals.
Chemical Week; January 20, 1999; Alperowicz, Natasha; 531 words At cw press time ofer brothers Investment (Tel Aviv) had agreed to pay $330 million for the...Refineries Ltd. (ORL); the Israeli government owns the balance. OferBrothers says it will retain all TIC's businesses and use TIC as a holding...
ISRAEL: BRITISH GAS TO KEEP ON DRILLING CLOSE TO GAZA.
Info-Prod Research (Middle East); June 14, 2004; 273 words ...Israel John Field alleged that the recent agreement signed with the Ofer Brothers for the establishment of private power plants would justify the development...to spend his money in Israel and expand the joint projects with the Ofer Brothers.
Israeli government selects two winners for biotech incubators.
BioWorld International; June 12, 2002; Fishman, Rachelle H.B.; 700+ words ...biotech incubators: the Einav group, headed by the Ofer Brothers, and the RAD Bioscience incubator group, headed by...in Nazareth-Illit, a private incubator within the Ofer Brothers group, will co-manage the Einav incubator, to be...
Israel Corp. scraps full Zim ownership
Jerusalem Post; December 25, 2003; TAL MUSCAL; 458 words ...s workers. The Israel Corp., controlled by the Ofer Brothers Group, holds a 49 percent stake in Israel's largest...remaining stake were set to begin shortly, but theOfer brothers pulled out of the potential deal claiming the "workers...
Yuli Ofer petitions High Court over fine
Jerusalem Post; January 22, 1996; EVELYN GORDON; 435 words ...against Attorney-General Michael Ben-Yair's decision to fine him and his company,Ofer Brothers Ltd., NIS 700,000 for tax violations. Ofer Brothers was one of 40 companies which made illegal campaign contributions to the Likud during the...
Meridor to meet IAEA chief in Vienna to discuss 'urgent' need for sanctions against Iran
Jerusalem Post; June 2, 2011; HERB KEINON; 468 words ...Meridor's spokesmen said had nothing to do with the Ofer Brothers Group affair. This meeting was set up weeks ago, and...is growing concern in Jerusalem that reports of the Ofer Brothers Group's commercial ties with Iran could undermine...
Bid to block Bazan breakup
Jerusalem Post; July 29, 2005; DANIEL KENNEMER; 579 words ...company were not split, there was no need to pay the Ofer Brothers' Israel Corporation for its part before selling off...Government in Israel has called the $120m. offered to the Ofer Brothers "an illegal gift to the magnates of the land at the...
Zim shipping company details $732 million fleet expansion
Jerusalem Post; November 15, 2004; TAL MUSCAL; 583 words ...journalists in Tel Aviv. Israel Corp., controlled by the Ofer brothers, is the purchaser of the ships, and their transfer...citing the NIS 5 billion debt owed to it by variousOfer brothers' subsidiary businesses. At the same time, Leumi holds...
Israel Real Estate Companies Going To America.
Israel Business Today; August 15, 1998; 268 words ...construction market to help it maintain profitability. Ofer brothers another large Israeli real estate company has also come to the same conclusion. Ofer Brothers, are examining a building project in Las Vegas. If...
Ofer Bros. to buy 50% of Packer Solpack
Jerusalem Post; October 2, 1995; Rachel Neiman; 296 words Rachel Neiman Jerusalem Post 10-02-1995 OFER Brothers will buy 50 percent of Packer Solpack, a Packer Steel...tech industrial park on properties held by Solpack.Ofer Brothers board chairman Yuli Ofer said the park's planned location...
Panel set up to probe TA fire
Jerusalem Post; June 26, 2003; AMIR EFRATI; 700+ words ...around the site will be opened as early as Sunday. The Ofer Brothers Real Estate Company, which owns Beit Mercazim, had...was still pending authorization by the city itself. Ofer Brothers, one of the largest real estate firms in the country...
Israel denies permitting Israeli shipping company to anchor in Iran.
Kuwait News Agency (KUNA); May 30, 2011; 390 words ...Benjamin Netanyahu's office denied the claim by the Ofer Brothers Group that its ships had been authorized by Israeli...bans any commercial deals with Israel since 1979. The Ofer Brothers Group owns and operates Israel's largest privately...
Sanctions get tinier.(Tidbits and Morsels: A column of musings on news that might otherwise go unnoticed.)
Iran Times International (Washington, DC); September 23, 2011; 233 words ...sanctions were imposed on an Israeli holding company, the OferBrothers Group. The sanctions have now been shifted form the...specific firms that were involved in the sale. Both of the Ofer brothers have died since the sanctions were first imposed earlier...
BRITISH GAS TO KEEP ON DRILLING CLOSE TO GAZA
Info-Prod Research (Middle East); June 14, 2004; 268 words ...Israel John Field alleged that the recent
DEPUTY SECRETARY OF STATE JAMES B. STEINBERG HOLDS A STATE DEPARTMENT NEWS BRIEFING ON IRAN SANCTIONS
Political Transcript Wire; May 24, 2011; 700+ words ...International, PCCI, Jersey and Iran, Royal Oyster Group, UAE, Speedy Ship, UAE Iran, Tanker Pacific, Singapore, Ofer Brothers Group, Israel, Associated Shipbroking, Monaco, and Petroleos de Venezuela, sometimes known as PDVSA, in Venezuela...
Jerusalem Post; May 28, 2002; Jessica Steinberg; 700+ words ...joint venture of the Yitzhak Tshuva group, which owns several hotels; A. Dori, a construction company; and the Ofer Brothers, which developed the Herzliya and Ashkelon marinas as well as other real-estate projects. Many of the buyers are.
Israel Corp. posted NIS 223m profit in Q3: Subsidiaries Israel Chemicals and Zim lower profits impacted mother company's results.
Globes; November 26, 2006; 504 words Byline: Gil Shlomo Nov. 26--OferBrothers subsidiary Israel Corp. (TASE: ILCO) today published its financial report for the third quarter of 2006. The company posted...
Lethargic market drifts slightly lower
Jerusalem Post; February 14, 1995; Andre Lumbroso; 584 words ...was up 3%, following reports of rises in profits of Netmanage. Cables was pushed up 2.8% by the news that the Ofer Brothers would settle a class-action suit brought against them following the collapse of Hassneh by paying NIS 10.5m. to...
Israel Corporation's profits drop 33%
Jerusalem Post; November 29, 1994; Rachel Neiman; 582 words ...from NIS 4.3m. in the previous year. Revenues for the period were NIS 102.8m. compared with NIS 103.8m. Ofer Brothers Investments posted net profits of NIS 2m. compared with a net loss of 589,000 in the same period last year. Revenues...
The danger of Leviev's trickle-down economic troubles. Ordinary Israelis may soon feel the impact of the financial downturn
Jerusalem Post; October 6, 2008; CALEV BEN-DAVID; 700+ words ...editions the extent of Leviev's losses - along with those of Shari Arison, Nochi Danker, Yitzhak Tshuva and the Ofer brothers - seemed to go beyond mere economic reporting. It was hard not to read a touch of schadenfreude in the manner the...
Lumenis takeover completed: Ofer Hi Tech and LM Partners bought 75% of the company for $120 million.
Globes; December 5, 2006; 295 words ...controlling interest in Lumenis was sold to Ofer Hi Tech Ltd. and LM Partners LP. Ofer Hi Tech is a subsidiary ofOfer Brothers run by chairman Udi Angel and CEO Yoav Doppelt. LM Partners is headed by Aharon and Shlomo Dovrat, Harel Beit-On...
Bezeq one step closer to privatization
Jerusalem Post; October 17, 2002; MATI WAGNER; 531 words ...received clearance from the Shin Bet to access the classified information are: the Israel Corporation, controlled by the Ofer brothers; Apex Investment Fund, the only foreign bidder to be based in Britain; Polar Investments, comprised of the Shrem...
For the sake of the children
Jerusalem Post; May 22, 2003; GREER FAY CASHMAN; 700+ words ...shipping, tourism, real estate, and high-tech tycoon Yuli Ofer. Angel, who sits on the Board of Directors of Ofer Brothers, heading the company' s hotel divisions here and abroad and serving as a director on the boards of the company...
Israel Corp bidding for Bermuda power company.
Globes; May 14, 2007; 478 words Byline: Roy Meltzer and Lior Baron May 14--Ofer Brothers subsidiary Israel Corp. (TASE: ILCO) is continuing its efforts to expand internationally. The company has announced its participation...
Electric Wire and Cable Company of Israel. (Half-Year Result Roundup) (Brief Article)
Israel Business Today; August 14, 1992; 251 words ...June 1991 to NIS 83.8 million. Shares of Electric Wire and Cable are traded on the Tel Aviv Stock Exchange. "The Ofer brothers hold a controlling interest of 45 percent. Electric Wire shares currently are trading at NIS 15.14.
SHIPPING LINE OPENS HEADQUARTERSS IN NORFOLK ZIM-AMERICAN SETS UP NORTH AMERICA SHOP.(BUSINESS)
The Virginian-Pilot (Norfolk, VA); September 4, 2001; 700+ words ...the event of war. The majority stake belongs to Israel Corp., a large Israeli holding company controlled by the Ofer Brothers Group, a privately held Israeli conglomerate. Under the government's terms for the sale, Israel Corp. has the...
Formula Ventures Seeks Additional Venture Capital.
Israel Business Today; March 1, 1999; 294 words ...The fund was established by Formula Systems, the largest software group in Israel. Investments in the fund by the Ofer Brothers, Poalim Capital Markets, Shamrock Holdings and Yozma-II Venture Capital have totaled $25 million. The fund in...
An industry under threat?(environmental concerns on the use of bromine)
Chemistry and Industry; July 19, 1999; Reuben, Bryan; 700+ words ...but recent privatisation initiatives have meant that the company is 53% owned and largely controlled by the Israeli Ofer brothers. World bromine production is now dominated by the three major producers, and is concentrated in the US and Israel...
New Israeli BOO initiative.(build-own-operate, Israel Electric Corporation)(Brief Article)
MEED Middle East Economic Digest; August 25, 2000; 529 words ...station. The tender for the estimated $200 million facility at Ramat Hovav was awarded to a consortium of the local Ofer Brothers and the US' Electric Power Services. The court forbade IEC from signing a supply contract, however, saying that...
Hungary to Shop, American Style; Opening of 2 Malls in Budapest Heralds New Retailing Era in Eastern Europe
The Washington Post; November 29, 1996; Robert Muraskin; 700+ words ...financed, Budapest mall is slated to open its doors next March. Israeli-based developers Control Centers Group and Ofer Brothers Group, who developed Duna Plaza with a Hungarian partner, have announced plans to build another seven malls and retail...
BRIEFS THE PRESS ON IRAN SANCTIONS.
States News Service; May 24, 2011; 700+ words ...International (PCCI), Jersey and Iran; Royal Oyster Group, UAE; Speedy Ship, UAE, Iran; Tanker Pacific, Singapore; Ofer Brothers Group, Israel; Associated Shipbroking, Monaco; and Petroleos de Venezuela, sometimes known as PDVSA, in Venezuela...
US imposes additional sanctions on Iran''s energy sector.
Kuwait News Agency (KUNA); May 24, 2011; 700+ words ...International, PCCI, Jersey and Iran; Royal Oyster Group, UAE; Speedy Ship, UAE/Iran; Tanker Pacific, Singapore; Ofer Brothers Group, Israel; Associated Shipbroking, Monaco; and Petroleos de Venezuela, sometimes known as PDVSA, in Venezuela...
Iran Dismisses Trade Activity with Zionist Regime.
FARS News Agency; May 30, 2011; 518 words ...ports. Israeli daily Haaretz claimed that at least 13 Tanker Pacific ships, owned by a leading Israeli company, Ofer Brothers Group, have docked in the Iranian port city of Bandar Abbas and Kharg Island over the past decade. Also, Chairman...
Sundown: NYT Taps Jill Abramson.
Tablet Magazine; June 2, 2011; Tracy, Marc; 325 words ...S. government, which considers Germany's 2000 reparations the final word. [NYT] * Laura Rozen reports on the Ofer Brothers case, in which a leading Israeli company has been accused by the United States of violating sanctions against Iran...
Zim sold to Israel Corp. for NIS 504m.
Jerusalem Post; January 14, 2004; MATI WAGNER; 496 words ...valuation according to external appraisers contracted by the Treasury. Zim's total debt is estimated at $1b. The Ofer brothers-controlled Israel Corp., which already has a 48.9% share in Zim, was the sole firm vying in the state tender...
Yam Thetis, Dorad sign deal
Jerusalem Post; May 24, 2004; ZEV STUB; 500 words ...stations, but Dorad, the largest player in the market, is now committed to Yam Thetis. The other station, the Ofer brothers' OPC-Ramat Hovav, has already signed on with British Gas as its supplier. Natural gas, which is considered cheaper.
The Shipping Blues
The Jerusalem Report; February 23, 2004; Judy Maltz; 700+ words ...itself of Zim for over 15 years, and investors have not exactly been knocking down its doors. In fact, this time the Ofer brothers were the only candidates willing to put in a bid. Still, the consensus among market analysts is that the government...
Gym for the Gray Cells
The Jerusalem Report; May 17, 2004; Elana Shap; 700+ words ...university position and CogniFit, a start-up he began in the Nayot high-tech incubator, a private venture of the Ofer Brothers Group. Funding for the project included a $300,000 grant from the Chief Scientist's Office of the Industry and...
Oil Refineries Haifa to set up fuel terminal in Ashdod: The investment is estimated at $50-60 million.
Globes; May 21, 2007; 559 words ...help the company expand its crude and refined oil import and export capacity through the EAPC dock. In February,Ofer Brothers acquired Oil Refineries through Israel Corp. together with a consortium of Petrochemical Enterprises and Glencore...
Paz rejects $375m. purchase offer. Bino-Liberman tells Rodev-Gat the petrol firm is not for sale.
Jerusalem Post; March 22, 1999; DAN GERSTENFELD; 619 words ...holds an 18% stake in Israel Corp., which was reported in the past to be interested in acquiring Paz. However, the Ofer brothers, who purchased the controlling interest in Israel Corp., last January denied reports they are also interested in...
Houston Industries abandons gas tender
Jerusalem Post; June 30, 1999; Globes News Service; 635 words ...consisting of Mashav - British Gas, of the Dankner group and Petrochemical industries; and a consortium consisting of the Ofer brothers and Italgas of Italy.Houston Industries, which does business as Reliant Energy, provides electricity to more than...
Currency fluctuations lead to lower Oil Refineries profit: Higher margins in the refining segment yield higher net revenue from refining.
Globes; August 20, 2007; 465 words ...up 8 percent on the NIS 401 million pro forma consolidated EBITDA for the corresponding quarter. A consortium ofOfer Brothers subsidiary Israel Corp. (TASE: ILCO) and Israel Petrochemical Enterprises Ltd. (TASE:PTCH) together with Glencore...
Israeli wealth getting more concentrated
Jerusalem Post; February 14, 2006; DANNIEL KENNEMER; 700+ words ...company of Supersol and others), Cellcom, Clal Insurance Holdings, Azorim Construction, and Israel Salt; the Ofer brothers, Sammy and Yuli, controlled 4.4%, through holdings in Israel Corporation and Israel Chemicals; while Haim Saban...
Dankner-owned companies among the best at self financing
Jerusalem Post; May 31, 2006; AVI KRAWITZ; 578 words ...Bradstreet's latest list of the country's largest holding companies based but lost out on the top spot to the Ofer Brothers' Israel Corporation. According to the D&B report which ranked the companies based on their abilities to self finance...
BDO Shlomo Ziv merges with Haft and Haft
Jerusalem Post; December 7, 2000; SHARON BERGER; 514 words ...number of key companies into the combined portfolio, including Bank Hapoalim, Israel Discount Bank, Formula Group, Ofer Brothers, Ze'evi Holdings, Clalit Health fund, American Express, and John Bryce. Shlomo Ziv is affiliated with the sixth...
Israel Corporation launches $100m. investment subsidiary
Jerusalem Post; February 13, 2001; BUZZY GORDON; 482 words ...Semiconductors and Oren Semiconductors." The Tel Aviv-based Israel Corporation, a private company owned primarily by the Ofer Brothers Group, is the major shareholder in Tower Semiconductors and owns 19 percent of Oren Semiconductors, both situated...
Lev Leviev in running for Haifa Oil Refinery: The refinery is due to be privatized in early 2007 at an estimated value of $1.3-1.5b.
Globes; December 4, 2006; 476 words ...decided how to do so, or whether to organize an investor group. The current leading participants in the tender include Ofer Brothers subsidiary Israel Corp. (TASE: ILCO), Israel Petrochemical Enterprises Ltd. (TASE:PTCH). Foreign investment...
BRIEF: Zim to buy up to eight container ships for $1.36 billion: "The purchase is part of our strategy to substantially expand shipping capacity.".
Globes; September 5, 2007; 399 words ...shipyard that will build the ships. Zim is considering contracts with Israeli and foreign companies affiliated withOfer Brothers, the parent company of Israel Corp., as well as with third parties, for the possible sale of rights or long-term...
Go east, young man
Jerusalem Post; September 21, 2001; Jessica Steinberg; 700+ words ...thirty hotels under construction came from foreign and Hungarian groups of investors in 1999 and 2000. Israel's Ofer Brothers Group was one of those investors, building Hungary's first mall, Duna Plaza, in the mid-1990s. The Ofer Bros...
Paz seeks partner for Oil Refineries Ashdod bid.
Globes; July 20, 2006; 519 words ...Ashdod tender. The company is believed to considering a partnership with Israel Corp. (TASE: ILCO), controlled Oferbrothers, or Migdal Insurance (TASE: MGDL). Until recently, Israel Corp held a 26 percent share in Oil Refineries Ashdod...
Israeli-Belgian consortium sole bidder in gas pipeline tender
Jerusalem Post; December 28, 2001; TAL MUSCAL; 700+ words ...and Amisragas (the Israeli partner); British Gas, together with Dor Chemicals; and Italy's Italgas with the Ofer Brothers. On Tuesday, the joint tender committee refused a request to extend the tender deadline by one month to accommodate...
ECI Telecom revenues drop 24%
Jerusalem Post; February 12, 2002; ZEV STUB; 601 words ...Dovrat - who founded Tecnomatix and is a founding general partner of venture capital fund Carmel Ventures - and the Ofer Brothers, who control the Israel Corp. holding company have invested in $50m. in ECI in return for a 12.5% stake...
Dally by the Danube
Jerusalem Post; February 8, 2002; Avi Hoffmann; 700+ words ...doubled. By coincidence, the explosion of shopping malls in Hungary has been fueled to a large extent by Israelis. The Ofer Brothers Group built Hungary's first mall, Duna Plaza, in the mid-1990s. Yuli and Sami Ofer, who control the Israel...
Ehud Angel buys 20% of Reshet
Jerusalem Post; January 13, 2006; AVI KRAWITZ; 336 words ...16Friday, January 13, 2006 -- Businessman Ehud Angel has bought 20 percent of Channel 2 producer Reshet, The Ofer Brothers Group said Thursday. Angel, who is a partner in the Group's shipping unit and serves as its chairman, bought 6...
Despite the snow...
Jerusalem Post; January 16, 1998; Greer Fay Cashman; 700+ words ...and Irit Kofler, Moshe and Hassia Wertheim, David and Irona Teich and Ofer Nimrodi, whose family together with the Ofer brothers and the Histadrut have just established a joint company which will manage the Histadrut's real estate. GIFTED children...
ECI files shelf prospectus.
Globes; June 6, 2006; 486 words ...equipment maker ECI Telecom Ltd. (Nasdaq: ECIL) did yesterday. The fall in ECI's share caused its shareholders -- Ofer Brothers, the Dovrat Group, Koor Industries Ltd. (NYSE: KOR; TASE: KOR) and Clal Industries and Investments Ltd..
Gov't expands economic sanctions against Iran
Jerusalem Post; June 27, 2011; HERB KEINON; 439 words ...Sunday to expand its economic sanctions against the Islamic Republic. The State Department's blacklisting of The Ofer Brothers Group for selling an oil tanker to Iran embarrassed the government, which for years has led calls for stricter international...
Balancing big business and free markets
Jerusalem Post; September 20, 2011; 700+ words ...Dankner's IDB Holdings, Shari Arison's Arison group and various firms controlled by Muzi Wertheim and the late Ofer brothers, which combine holdings in both financial institutions such as banks, insurance companies and investment companies...
Expert: Nigeria likely to supply natural gas
Jerusalem Post; April 13, 1998; DAVID HARRIS; 687 words ...and Paz; Gaz de France, Texas Utilities and Amisragas; British Gas, Mashab, and the Dankner family; Italgas and Ofer Brothers; and Bridas of Argentina. The government hopes that by 2005 a quarter of all energy used in Israel will be gas...
A week of low turnovers
Jerusalem Post; September 6, 2002; YAIR ALEK; 700+ words ...beginning of 2002, also rose on rumors that Joseph Safra, its controlling owner, offered control of the bank to the Ofer Brothers. Alliance may be the first company in a series of companies to sell off shares in consideration for the diversification...
The ultimate solution to the draft-deferment controversy
Jerusalem Post; September 27, 2002; JONATHAN LIPOW; 700+ words ...that their members effectively pay no income taxes at all, while the Israel Corporation, owned by the billionaire Ofer brothers, pays no corporate profits taxes. It is not clear why haredim and their particular tax breaks should be singled out...
Don't jump into family businesses too quickly
Jerusalem Post; November 5, 2002; ZEV STUB; 421 words ...to undermine brother Nochi Dankner's $840 million purchase of IDB Holding Corp. And last month, the billionaire Ofer brothers announced plans to split up their business empire after two years of planning. According to Alon Braude, author of...
Two winners of biotech incubator tender to merge
Jerusalem Post; November 26, 2002; YEHEZKEL LAING; 442 words ...German-Israeli venture capital fund, Star Fund, and the German pharmaceutical giant Merck. Einav is led by the Ofer brothers, who control the Israel Corporation. It includes the Yozma Fund and the international biotech company Genzyme. The...
Israel Corp to control Oil Refineries alone: Security problems are delaying the control permit for the Petrochemical Enterprises-Glencore consortium.
Globes; May 13, 2007; 700+ words Byline: Lior Baron and May 13--OferBrothers subsidiary Israel Corp. (TASE: ILCO) will initially be the sole controlling shareholder in Oil Refineries Ltd. (TASE:ORL...
US hits more foreign firms with Iran sanctions
AP Worldstream; May 24, 2011; MATTHEW LEE; 700+ words ...broader provisions of the law.The affected companies include Petroleos de Venezuela, Tanker Pacific of Singapore, Ofer Brothers Group of Israel, Associated Shipbroking of Monaco, Petrochemical Commercial Company International of Jersey and Iran...
Sanctioned Israel firm denies wrongdoing on Iran
AP Worldstream; May 25, 2011; 266 words ...clear its name and says it did business unwittingly with an Iranian shell company.Motti Scherf, a spokesman for the Ofer Brothers Group, told Israel Radio on Wednesday the company checked a U.S. government list of Iranian companies before finalizing...
High tech real estate. (Belt Mercazim 2000 near Holon, Israel)
Israel Business Today; April 17, 1992; 382 words ...which is located in the developing industrial zone of Holon, was originally built by Tadiran in 1986 and acquired by Ofer Brothers Investments about two years ago. At the end of 1991 it was decided to market the property piecemeal as the firm had...
Shipping Firm Moves Headquarters to Norfolk, Va.
Knight Ridder/Tribune Business News; September 4, 2001; 700+ words ...the event of war. The majority stake belongs to Israel Corp., a large Israeli holding company controlled by the Ofer Brothers Group, a privately held Israeli conglomerate. Under the government's terms for the sale, Israel Corp. has the...
ISRAEL.(includes various news articles)(Statistical Data Included)
MEED Middle East Economic Digest; October 29, 1999; 700+ words ...other bidders are: El-Paso Energy of the US, with Gaz de France and the local Amisragas; Italgas, with the local Ofer Brothers; and UK-based BP Amoco, with the local Paz Oil Company (MEED 29:3:98). The winning consortium will be required...
Israel Electric says yes to Egyptian gas.
World Gas Intelligence; May 26, 2004; 598 words ...deal to help build and supply gas to two private power stations, Mishor Rotem and Ramat Hovav, planned by Israel's Ofer Brothers (WGI Dec. 17,p4). Israel has struggled to develop the nuts and bolts of a domestic gas infrastructure, however...
U.S. sanctions 5 foreign firms for helping Tehran import gas.(WORLD)
The Washington Times (Washington, DC); May 25, 2011; 700+ words ...the United States. Citgo was exempted from the sanctions. The new sanctions also target an Israeli concern, the Ofer Brothers Group, for providing an oil tanker valued at $8.65 million to an Iranian shipping company, according to the Jewish...
Dagan: Iran Strike - Only as Last Resort.
Israel Faxx; June 2, 2011; 700+ words ...Republic, and Syria might also be dragged into the confrontation. Dagan also addressed reports of trade ties between the Ofer Brothers and the Islamic Republic. "There is no law prohibiting a ship from docking in Iran," he said. "I am not the defender...
Budapest remains a gem for Israeli investors
Jerusalem Post; June 24, 2004; JESSICA STEINBERG; 700+ words ...constructed three apartment projects. It's not alone. Several other local developers and investors, including Ofer Brothers, Engel Construction Enterprises, Profit Construction Industries, and Bank Hapoalim, have moved into Central and...
Pelephone grows in Q2 on new subscribers
Jerusalem Post; August 20, 2004; Zev Stub; 700+ words ...and called for a sale to be made quickly. The company is 74%-held by the state, with 26% in the hands of the Ofer brothers' Israel Corp. Shares of Israel Corp. rose 3.7% to NIS 796.40 following the news. Another of its holdings...
The Jerusalem Report; August 2, 2010; 695 words ...buy Israel's most expensive apartment, a penthouse duplex in a 20-story seafront building in Tel Aviv, costing 115 million shekels (about $30 million). The building is owned by his family's firm, Ofer Brothers Properties Ltd.
The Builders of Budapest
The Jerusalem Report; October 4, 2004; Patricia Eszter Margit; 700+ words ...Report. Two Israeli giants, Elbit's Plaza Centers and Duna Investment Ltd., a Hungarian affiliate of Israel's Ofer Brothers group (which has large shipping interests and owns the Israel Corp. holding company back home), have taken leading...
FEDERAL REGISTER NOTICE CLARIFYING PREVIOUS SANCTION ANNOUNCEMENT
US Fed News Service, Including US State News; September 14, 2011; 313 words ...in the Sammy Ofer shipping organization that were responsible for providing a tanker to Iran. The use of the name "Ofer Brothers Group," a commonly used trade name, caused confusion for some banks and companies that were trying to comply with...
Treasury seen opposing new tender for Ramat Hovav power plant: Finance Ministry D.G. Ariav: Barriers should be removed under the auspices of the existing regulatory framework.
Globes; May 21, 2007; 451 words ...the anticipated shortfall in electricity starting from 2009. Three years ago, the previous tender which was won byOfer Brothers was cancelled, and the case is now being heard by the High Court of Justice. The Infrastructures Ministry has suggested...
Elbit interest in Israel Shipyards. (Brief Article)
Israel Business Today; March 25, 1994; 323 words ...of ships, in order to develop new products for the world market. High-tech firm Decision Systems Israel and the Ofer brothers are also reported to be interested in acquiring control of Israel Shipyards. Whoever acquires control of the shipyards...
The week in review.(Israeli bank acquisitions)(Column)
Israel Business Today; December 9, 1994; Lumbroso, Andre; 700+ words ...equity in another 18 months for the same price, adjusted by inflation. The Ofer-Wertheim group consists of the Ofer brothers (50 percent), who have considerable interests in shipping and construction, and Mosy Wertheim and Abe Feinberg...
Keeping the Dead Sea alive
Jerusalem Post; May 26, 2011; 700+ words ...protection ministers announced last Monday that the Dead Sea Works (owned by the Israel Corporation, in which the Ofer brothers hold the largest stake) will have to pay for dredging the bottom of the lake to remove the chemical sludge regularly...
Elite Q1 exports rise. (Elite Israel Chocolate and Sweets Manufacturing Company Ltd., 1st. quarter, 1995)
Israel Business Today; June 16, 1995; 322 words ...figures were smoothed out, however, by NIS 8.1 million in capital gains from the company's sale of property to Ofer Brothers. Elite says that first quarter earnings were influenced by extraordinary expenses of NIS 2.7 million, resulting...
E-mail co Impactia raises $1m: The company develops software solutions for enriching e-mail with marketing content.
Globes; September 12, 2006; 408 words ...marketing needs. Headquartered in London, the company has 14 employees. Ofer Hi-Tech is the venture capital arm of Ofer Brothers. Ron Einav has advised Impactia over the past year. He is director at ClickSoftware Technologies Ltd. (Nasdaq...
Hundreds bid farewell to billionaire shipping tycoon Sammy Ofer in TA
Jerusalem Post; June 6, 2011; BEN HARTMAN; 700+ words ...eulogizing Ofer, who along with his sons became the subject of heavy controversy after a US State Department nam\ed Ofer Brothers, which Sami founded with his brother Yuli in the 1950s, as one of seven companies to face sanctions for trading with...
Gov't to put Bazan refinery up for sale
Jerusalem Post; January 11, 2006; DANIEL KENNEMER, Bloomberg contributed to this rep; 511 words ...Justice decision from December 28 to reject an appeal by the Movement for Quality Government against payments made to the Ofer brothers' Israel Corp., at the expiry of their concession to operate the Ashdod and Haifa oil refineries. The Histadrut...
EMG in talks to sell 1b cu.m. of gas: The price under discussion is maximum of $4 per million BTU.
Globes; July 30, 2006; 544 words ...believe the interlocutors are Nesher Israel Cement Enterprises Ltd., Dalia Power Energies Ltd., Dead Sea Works, andOfer Brothers. Paralleling the negotiations with EMG, the M. Seligman & Co. law firm is organizing a group of natural gas buyers...
Strauss-Elite sell Tel Aviv lot stake for $8m: American Colony Towers plans to rezone the Neve Zedek lot for residences.
Globes; August 13, 2006; 371 words ...50 percent stake in Leiber lot near Neve Zedek in south Tel Aviv to American Colony Towers Ltd. for $8 million.Ofer Brothers owns the other half of the lot, and reportedly does not plan to sell, although it might do so. Strauss-Elite notified...
TASE declines led by Bank Hapoalim
Jerusalem Post; April 12, 1999; Bloomberg; 570 words ...granting the Eisenberg family a tax exemption on money made from the January sale of control over the company to the Ofer brothers for $330 million. Elbit rose 12.32 percent to 24.70. The computer communications and networking company's...
Gas-tender bidders object to changed terms
Jerusalem Post; July 1, 1999; Globes News Service; 414 words ...including British Gas, the local Mashav, the Dankner group, and the Petrochemical plants; and a group made up of the Ofer brothers and Italgaz.Sources in most of these groups recently claimed that the new regulations the ministry is seeking to...
Globes, Tel Aviv, Israel, Shiri Habib column: Lumenis sees the light.
Globes; October 4, 2006; 700+ words ...global giant Philips. Ultimately, an acquisition deal was signed with an investment group led by Harel Beit-On, and Ofer Brothers subsidiary Ofer Hi Tech Ltd.. The group announced that it would acquire 75 percent of Lumenis for $120 million...
Israel Corp. looks to buy stake in Bezeq
Jerusalem Post; August 30, 1999; DAN GERSTENFELD; 700+ words ...that the company made much progress in the implementation of its new strategic plan, which was announced after the Ofer Brothers took control of the company last year. He said the plan calls for widening the company's activity abroad, increasing...
Oil Refineries Haifa public offering brought forward: The public tender will take place three days earlier in order to begin trading in the share as soon as possible.
Globes; February 13, 2007; 346 words ...privatization is completed could reach $1.7 billion. Strategic investors likely to participate in the public tender include Ofer Brothers, Israel Petrochemical Enterprises Ltd. (TASE:PTCH), and Africa-Israel Investments Ltd. (TASE:AFIL; Pink...
Tourism Aside, Israel's Economy Stays Strong: Investors Continue to See Potential in Israel's High-tech Market.
The Jewish Advocate (Boston, MA); April 5, 2001; Bedein, David; 700+ words ...HSBC recommends investing in Israel more than in Europe Siemens signed a $200 million agreement with Israel's Ofer Brothers Group for the construction of a natural gas driven power station. Alex Brown participated in the $9 million private...
Taro gets tentative FDA approval for GERD treatment: Taro chairman Barry Levitt will decide on the company's future in early March.
Globes; February 27, 2007; 507 words ...eyes of investors. Taro has a current market cap of $265 million. Possible financial investors mentioned includeOfer Brothers through Ofer Hi Tech Ltd., Israel-Israel Cold Storage Supply Co. Ltd. (TASE: CDSS), by Roni Gat and Shlomo...
Ofer rumored to be planning takeover of Hanjin Shipping: Sammy Ofer bought 8.7% of Hanjin Shipping last week.
Globes; October 16, 2006; 680 words ...largest shipping company and the eighth largest in the world. Zim Integrated Shipping Services Ltd., controlled byOfer Brothers Group through Israel Corp. (TASE:ILCO) is the world's 13th largest shipping company. The "Korean Herald...
P&O Princess rejects Arison's Carnival offer
Jerusalem Post; December 18, 2001; SHARON BERGER and news agencies; 585 words ...Corporation, in favor of an earlier $7.4 billion merger offer from Royal Caribbean Cruises Ltd., in which the Ofer Brothers have a 38 percent stake. Although Miami-based Carnival, which is controlled by the Arison family, who are also...
Marinas shoring up Israeli real estate
Jerusalem Post; May 7, 2002; JESSICA STEINBERG; 700+ words ...company Mivnei Gazit. "You build marinas and people live there." In Herzliya, north of Tel Aviv, Gazit and the Ofer Brothers group developed Marina Village, the first of five projects for the exclusive marina, which will eventually have 1...
Elite Industries posts 8.6% increase in 1st quarter net profits
Jerusalem Post; May 30, 1995; GALIT LIPKIS BECK; 415 words ...the figures were flattered by NIS 8.1m. in capital gains resulting from the company's sale of property to the Ofer Brothers. The company said first quarter earnings were influenced by extraordinary expenses of NIS 2.7m. resulting from...
Court delays Yuli Ofer's trial on tax fraud
Jerusalem Post; June 21, 1995; EVELYN GORDON; 432 words ...Tel Aviv Magistrate's Court - will therefore be postponed to give him a chance to do so. Ofer and his company, Ofer Brothers Ltd., have been indicted on tax fraud charges related to the Likud's 1988 electoral campaign. About 40 companies...
A-G drops tax fraud case related to Likud campaign
Jerusalem Post; August 4, 1995; JOSE ROSENFELD; 307 words ...prosecute Yuli Ofer on tax fraud charges related to the Likud's 1988 electoral campaign. Ofer and his company, Ofer Brothers Ltd., were indicted for evading campaign contribution restrictions and using the receipts to fraudulently claim Value...
PM backs Dead Sea tourism project
Jerusalem Post; August 26, 1998; GREER FAY CASHMAN; 477 words ...developer Motti Zisser told Netanyahu that if the government provides the money, he and other investors - such as Ofer Brothers, Israel Resort Hotels, and Africa Israel - would be ready to start clearing land within 90 days. Tourism Minister...
Bid deadline for Mizrahi postponed
Jerusalem Post; November 23, 1994; GALIT LIPKIS BECK; 581 words ...family and Belgium diamond merchants Leon Schechter and David Nimdar. The Ofer-Wertheim consortium consists of the Ofer Brothers and Uzi Wertheim, chairman of Coca Cola. Copyright 1994 Jerusalem Post. All Rights Reserved
'Mentsch' of conscience
Jerusalem Post; December 16, 1994; GREER FAY CASHMAN; 700+ words ...1,000 people attended the opening of Herzliya's $30 million Mercazim 2001, a luxury block of offices built by Ofer Brothers. Ofer and his wife, Ruth, greeted well-wishers, including Israel TV broadcaster Dalia Mazor, Herzliya Mayor...
Israel's 'scrambled' economic system
Jerusalem Post; August 16, 2009; DANIEL DORON DANIEL DORON; 700+ words ...exposing concrete instances. Miki Rosenthal, the maverick producer-director of Shitat Hashakshuka, has focused on the Ofer brothers, among the country's most powerful oligarchs, and their relations with the government. He has done so with great...
Coast Guard says container ship fire extinguished south of Dutch Harbor, Alaska
AP Worldstream; June 20, 2008; 264 words ...130 plane from Kodiak and the Cutter Mellon. The crew of the India Lotus, a vessel owned by the Israeli company Ofer Brothers, told the flight crew they no longer needed aid. Tippets said there were 32 people on board the burning ship and...
Domestic options surface.
MEED Middle East Economic Digest; August 4, 2000; 700+ words ...Middle East Energy; El-Paso Energy of the US, with Gas de France and the local Amisragas; Italgas, with the local Ofer Brothers; and Belgium's Tractebel with the local Paz Oil Company BP Amoco of the UK had been part of the last consortium...
Hapoalim abandons Hassneh. (Bank Hapoalim, Hassneh Insurance Company of Israel Ltd.)
Israel Business Today; December 4, 1992; 322 words ...enraged new shareholders Israel Cable which apparently lead to the suspension. Israel Cable, which is controlled by the Ofer Brothers and Bank Hapoalim, recently invested MS 60 million in Hassneh for 54 percent of the equity. In addition, In response...
Boxship fined after long hunt for polluter.
Australasian Business Intelligence; June 14, 2005; 337 words ...1,448 teu. Publication Date: 9 June 2005 AUSTRALIA. MARITIME SAFETY AUTHORITY: DISTRICT COURT OF QUEENSLAND: OFER BROTHERS GROUP By Kevin Chinnery All copyright subsisting under the Copyright Act 1968 (Commonwealth) resides in us. No part...
Competitors managing Israel's first private biotech incubators.
BioWorld International; December 4, 2002; H.B. Fishman, Rachelle; 595 words ...won the tenders to establish Israel's first two privatized biotech incubators--the Einav group, headed by the Ofer Brothers, and Yehuda and Zohar Zisapel's RAD Bioscience incubator group--under the condition that they establish a third...
US sanctions venezuela's PDV over Iran t.(Petroleos de Venezuela S.A.)
The Oil Daily; May 25, 2011; Sampson, Paul; 700+ words ...Three shipping companies--Singapore's Tanker Pacific, Monaco-based Associated Ship-broking and Israeli firm Ofer Brothers--were also collared for dealing with Iran's state shipping company Islamic Republic of Iran Shipping Lines, which...
Encyclopaedia Judaica; January 1, 2007; Berman, Morton Gilboa, Shaked; 316 words ...control of the Israel Corporation, one of Israel's large investment companies, which after his death was sold to the Ofer brothers in 1999. In 1978 he began to operate in China, with projects worth around $1 billion.[Morton Mayer Berman /Shaked...
Israel Corp. vies again for Zim
Jerusalem Post; January 12, 2004; TAL MUSCAL; 506 words ...Corp. vies again for ZimByline: TAL MUSCALEdition; DailySection: EconomicsPage: 15Monday, January 12, 2004 -- Ofer brothers-controlled Israel Corp., said Sunday it will offer to acquire the government's 48.6 percent stake in Zim Israel...
IE rejects Ofers' Ramat Hovav power station
Jerusalem Post; June 25, 2004; ZEV STUB; 463 words ...DailySection: EconomicsPage: 13Friday, June 25, 2004 -- Israel Electric said Thursday its board of directors rejected the Ofer Brothers' request to push back the tender to build a power station in Ramat Hovav. More than 15 months after the billionaire...
Pegasus's way to success is taking notes
Jerusalem Post; August 13, 2004; NICKY BLACKBURN; 700+ words ...invested in Pegasus came from Israeli venture capital companies, such as Tueza - a Fairchild Technology Venture Fund, Ofer Brothers, and Yozma Venture Capital, though US company Techmedia invested $1m. in 1998. From 2002, a number of Japanese...
Israeli firms gain in $90m. deal
Jerusalem Post; August 26, 2004; AVI KRAWITZ; 407 words ...shareholders, Ampal has forecast a gain of $6m. through its investments in Telecom partners. Based in Tel Aviv, Ofer Brothers-controlled Israel Corp. is involved in the privatization and development of key industries both in Israel and abroad...
First step taken to split Bazan
Jerusalem Post; September 8, 2004; MATI WAGNER; 585 words ...purchasing the Haifa plant unless they hold less than 15 percent of market share. The Israel Corp., controlled by the Ofer brothers, owns 26% of Bazan, which includes both the Ashdod and Haifa plants. It is still unclear how the split will affect..
Small Needles, Big Deal
The Jerusalem Report; November 18, 2002; Jay L. Abramoff; 700+ words ...of the Industry and Trade Ministry - made a match between NanoPass and Biocom, a venture capital fund owned by the Ofer Brothers Group, one of Israel's largest conglomerates. Biocom adopted NanoPass, and provided $300,000 for added development...
The Jerusalem Report; October 4, 2004; Hanan Sher; 596 words ...operation is a good manager, which is hard to come by," says Avi Levy, the chief financial officer of the Tel Aviv Ofer Brothers group, whose company has concentrated its East European efforts on one country, Hungary. Several other Israeli firms...
The Long Road to Privatization
The Jerusalem Report; March 7, 2005; Hanan Sher; 700+ words ...with the sell-off of Zim, one of the world's top container maritime shipping companies, to the ship-owning Ofer brothers in 2002. Why have things been so slow? Jacobs says there's been a lack of direction. "Over the years, there...
BRIEF: Zim raises shipping rates following Maersk departure.
Globes; August 13, 2007; 385 words ...at the Ashdod and Haifa ports and their lack of infrastructure as reasons for quitting Israel. Zim is controlled byOfer Brothers through Israel Corp. (TASE: ILCO). To see more of Globes or to subscribe to the newspaper, go to http://www...
BRIEF: Port delays lead Zim to cut traffic: The company's Asia Med Pacific service will switch to Piraeus.
Globes; September 9, 2007; 341 words ...Greece to serve the East Mediterranean basin. Zim is a subsidiary of Israel Corp. (TASE: ILCO), controlled by Ofer Brothers. To see more of the Globes or to subscribe to the newspaper, go to http://www.globes.co.il. Copyright...
Lumenis sold to investor group: The group, comprising Ofer Hi-Tech, Aharon and Shlomo Dovrat, Avi Zeevi, and Harel Beit-On, bought 75% of the company for $120 million.
Globes; October 3, 2006; 497 words ...LUME.PK) for $120 million. The group, comprises Harel Beit-On, Aharon and Shlomo Dovrat, Avi Zeevi and OferBrothers subsidiary Ofer Hi Tech Ltd., run by chairman Udi Angel and CEO Yoav Doppelt. Part of the $120 million injection...
Salveo buys Karmiel properties for REIT
Jerusalem Post; August 7, 2006; DANIEL KENNEMER; 476 words ...include 22,500 square meters of office space - are already built and currently house workers of Intel, Zim and the Ofer Brothers, as well as law offices and other free trades. Rental prices in the towers range from $12.50 to $14 per square...
Fix the system, and morality will follow
Jerusalem Post; March 22, 2007; DANIEL DORON; 700+ words ...practices. ELSEWHERE in the magazine, he describes a meeting between then finance minister Binyamin Netanyahu and the Ofer brothers and their attorney Ram Caspi. They had been pushing unrealistically low bids on the government and Netanyahu simply...
Jerusalem Post; July 17, 2007; GREER FAY CASHMAN; 700+ words ...number and variety of causes; among the more recent is a NIS 200,000 donation by Israel Chemicals, owned by the Ofer Brothers, to the Abu Basma Council for the purchase of 25 garbage compactors. The donation was made at a festive ceremony...
Iscar to open plant in Vietnam: The Israel-Vietnam Chambers of Commerce opened this week.
Globes; November 30, 2006; 425 words ...Sea; Baran Group (TASE: BRAN; OTCBB:BRANF), which is preparing to build communications infrastructures; and Ofer Brothers and Rami Ungar in shipbuilding. Copyright (c) 2006, Globes, Tel Aviv, Israel Distributed by McClatchy-Tribune...
Delek likely to bid to build MA Industries power station.
Globes; April 6, 2006; 478 words ...MW power station in Ashdod at a cost of $250 million. Other companies interested in MA Industries' tender are OferBrothers subsidiary OPC Ltd., Israel Power Ltd., and Siemens (NYSE:SI; XETRA:SIE). MA Industries recently announced...
Jerusalem Post; August 1, 2010; Monty Zion Larry Derfner notes Richard Prager Marcella Wachtel Pesach Goodley Evelyn Ross Ralph Ellis Barry Shaw Toby Wi; 700+ words ...a factor, as is speed. However, this does not warrant the criminal pollution of our country. Is it because the Ofer brothersare wielding their power as they supply the transportation for the coal? This shameful state of affai
Gov't to boost private power stations. Competition in electricity market gains steam as committee okays NIS 7b. in grants
Jerusalem Post; August 11, 2010; SHARON WROBEL SHARON WROBEL; 700+ words ...months ago following harsh criticism and lobbying by OPC Rotem, a subsidiary of the Israel Corporation owned by the OferBrothers, and Yitzhak Tshuva's Delek Group subsidiaries, which requested to be eligible but will not be entitled to the...
Medtronic leads round B effort raising $15M for MindGuard.
Medical Device Daily; July 1, 2003; 700+ words ...raised from existing investors, including Pitango Venture Capital, Tamir Fishman Ventures, Fantine Europe Fund, Ofer Brothers Hi-Tech, Eucalyptus Ventures, Gemini Venture Capital and the Fuller Foundation. Round A & A1 had raised $6...
Dredge all salt from Dead Sea southern basin, experts urge. Inaction, they warn, would eventually lead to Ein Bokek hotels being flooded
Jerusalem Post; May 19, 2011; SHARON UDASIN; 700+ words ...Works should pay for 100 percent of the dredging costs. "The Israel Corporation [owner of Dead Sea Works] and the Ofer brothers [who hold the largest stake in the company] have made a more than modest fortune on the recent sale of phosphate...
Israel Electric, private firm to sign deal worth NIS 3b.
Jerusalem Post; February 11, 2005; DANIEL KENNEMER; 618 words ...IEC in relation to the public provider's needs. Four-fifths of the OPC Rotem consortium is in the possession of Ofer Brothers (Energy Holdings) Ltd., the remaining fifth being held by Munich-based Kyros GmbH, itself wholly owned by Siemens...
Want to buy a bank?(Israeli government is having trouble bidding up value of Bank Mizrahi)
Israel Business Today; October 21, 1994; 340 words Two consortiums put in bids to buy Bank Mizrahi:the first group includes the Ofer Brothers (Yuli and Sami) active in shipping and Electric Wire and Cable, Muzi Wertheim, Chairman of Central Bottling Co, and Abe Feinberg...
Strauss-Elite's Q3 performance soars
Jerusalem Post; November 18, 2004; Zev Stub; 604 words ...industrial chemicals business had operating income of $16.4m. Shares of the company, which is controlled by the Ofer brothers' Israel Corporation, were virtually unchanged at 9.26 following the report. Clal Insurance's net dives 17...
Netanyahu: Port privatization will save thousands of shekels per family
Jerusalem Post; February 25, 2005; DANIEL KENNEMER; 700+ words ...to return once the strikes came to and end. The company's privatization was completed in February 2004, when the Ofer brothers' Israel Corporation bought out the state's remaining 48.6% stake to hold a total of 97.5% of the company...
Recycling project attracts bids.(near Rishon-le-Zion, Israel)
Israel Business Today; July 31, 1996; 281 words ...from Germany, American Refuel and Seghars from Belgium, as well as leading local organizations such as Koor, the Ofer Brothers, Elco and Merlaz. The tender was issued by the South Judean Environment Urban Association, headed by Gila Schneider..
Zim in talks for $350m. bond offering
Jerusalem Post; April 4, 2005; AVI KRAWITZ; 400 words ...first fund-raising activity the company has undertaken since being bought out by Israel Corp. in January 2004. The Ofer brothers-controlled Israel Corp. paid NIS 504m. for the government's 48.6% share in the company, thus ending a 15...
Markets in Brief
Jerusalem Post; January 20, 1999; Dan Gerstenfeld; 252 words ...as chairman of the board of the Israel Corporation, a spokesman for the Ofer Group said yesterday. Last week the Ofer brothers, Sami and Yuli, finalized a deal to purchase the Eisenberg family's 53 percent stake for $330 million. Idan...
Study: Holding groups control 77% of TASE firms
Jerusalem Post; August 2, 1999; DAN GERSTENFELD; 541 words ...which is equivalent to some 22.5 percent of the total market capitalization of the TASE.The second largest group is Ofer Brothers which holds 7.5% of the bourse's market capitalization with 11 fully-owned companies and two companies which...
Perio's sale to Dexxon canceled
Jerusalem Post; August 16, 1999; DAN GERSTENFELD; 471 words ...Moreover, the cancelation is also seen as a serious blow to the company's image, as it marks the first move of the Ofer Brothers Group, which acquired Israel Chemicals parent company, the Israel Corp., last year, to sell its unrelated businesses...
Port of Refuge
Jerusalem Post; October 11, 1996; Bonnie Rochman; 700+ words ...rescue of the first group in particular inspired a sense of pride in Israelis. Yuvali, a ship operated by Haifa's Ofer Brothers, rescued 66 Vietnamese boat people after craft from East Germany, Norway, Panama and Japan had all passed them by...
Government to sell Yozma for NIS 50m.
Jerusalem Post; March 10, 1997; DAVID HARRIS; 367 words ...10-1997 The Prime Minister's Office announced last night the intended sale of Yozma Venture Capital Ltd. to Ofer Brothers Investments Ltd. for NIS 50 million.This is the first sale of an entire public company since the government came...
The Silicon Plains. Mayor Milo has announced the expansion of Tel Avivs high=- tech industrial park
Jerusalem Post; February 12, 1997; GALIT LIPKIS BECK; 700+ words ...commercial projects under construction in Jerusalem and Holon. s Ofarim Buildings, a company jointly owned by the Ofer Brothers and Gazit 2000, have sold 29 of the 120 apartments in the exclusive Marina Village development currently being constructed...
Zim charts new course on Internet
Jerusalem Post; December 28, 2000; JESSICA STEINBERG; 700+ words ...shipping efforts, partially due to its other owner, Israel Corp., the holding company owned by the Ofer Group. "The Ofer brothers have made Zim much more efficient," said Haim Israel, an analyst at Nessuah Zannex Securities. "They're leasing...
Mizrahi chairman steps down
Jerusalem Post; March 27, 2001; SHARON BERGER; 700+ words ...believed to be a leading contender. A new candidate will be presented to the board within the next few days, said the Ofer brothers, amongst Mizrahi's major shareholders. At a Tel Aviv press conference general manager Victor Medina refused to...
Jerusalem Post; November 21, 1997; David Harris and news agencies, Jennifer Friedlin; 328 words ...expressed an interest in bidding for the tender for the Ramat Hovav station. Participants included Oil Refineries, OferBrothers, Anro, Ashkogan, Barakat and Ormat. One of the principal areas of concern is whether IEC will choose to buy its...
RAD-Bioscience, Einav win biotech tender
Jerusalem Post; May 28, 2002; GWEN ACKERMAN; 605 words ...Fund and the German pharmaceutical giant Merck It plans to establish its incubator in Jerusalem. Einav is led by the Ofer brothers, who control the Israel Corp. holding company. It includes the Yozma fund and the international biotech company...
Gov't tender published for third biotech incubator
Jerusalem Post; July 29, 2002; GWEN ACKERMAN; 388 words ...Israeli-German Star fund and the multinational pharmaceutical company Merck, and the Einav group, which is led by the Ofer brothers and includes the international biotech company Genzyme. The two winners are in the preliminary stages of setting up..
Migdal earnings drop 90%
Jerusalem Post; August 28, 2002; ZEV STUB; 641 words ...shipping company Zim Israel (49%) lost $6.7m. For the first half, Israel Corporation, which is owned by the Ofer brothers, lost NIS 67m., after reporting net income of NIS 13m. in the same period last year. Revenues for the half were...
Jerusalem Post; March 27, 1995; Rachel Neiman; 300 words ...manager of Coral Beach. For the past 18 years Ofer-Angel has managed the travel agencies and tourism business of the Ofer Brothers group. Laser Industries has selected ex-deputy general manager and CFO Yascha Sutton as president. Board chairman...
A discounted Discount Bank?
Jerusalem Post; January 28, 2005; DAN GERSTENFELD; 700+ words ...involve behind the scenes dealings the Treasury conducted when it sold holdings in shipping company Zim Navigation to the Ofer Brothers for what is believed to be a bargain price. Although most commentators tried to compare the sale of Discount to the...
It's not easy to resist food - or politics
Jerusalem Post; September 20, 2002; Greer Fay Cashman; 700+ words ...billion. Shari Arison made second place on the Ma'ariv list with an estimated worth of NIS 6.16 billion and the Ofer brothers whose worth is estimated at NIS 5.29 billion came in fifth, trailing behind industrial giants Stef and Eitan Wertheimer...
D&B: Israel Corp largest holding co: IDB Development is in second place, followed by Delek Group.
Globes; May 15, 2007; 469 words Byline: Michal Yoshai May 15--D&B Israel ranks Ofer Brothers subsidiary Israel Corp. (TASE: ILCO) as Israel's largest holding company, after it reported 4.5 percent shareholding...
Olmert seeks new tender for failed biotech incubators
Jerusalem Post; September 3, 2003; YEHEZKEL LAING; 506 words ...German-Israeli venture capital fund, Star Fund, and the German pharmaceutical giant Merck. Einav is led by the Ofer brothers, who control the Israel Corporation. It includes the Yozma Fund and the international biotech company Genzyme. Upon...
Yuli Ofer, one of Israel's richest men, dies at 87
AP Worldstream; September 12, 2011; 272 words ...Romania with his family in 1924.Earlier this summer, the U.S. government sanctioned Sammy Ofer's company, Ofer Brothers Group, for selling an oil tanker to Iran through a Singapore subsidiary, in violation of U.S. trade restrictions...
Five contenders for Union Bank. (Union Bank of Israel)
Israel Business Today; May 15, 1992; 262 words ...Jack Lieberman which is also bidding for the shares of the United Mizrahi Bank; a group headed by businessmen the Ofer brothers and another group headed by Shlomo Eliahu of Eliahu Insurance. The fifth contender is an unnamed overseas investor...
What's New Around The World.
World Gas Intelligence; March 8, 2001; 700+ words ...some of the LNG to feed its petrochemical facilities and power plants. ISRAEL -- Israel's OPC Energy, part of the Ofer Brothers Group, has signed a reservation fee agreement to purchase gas turbine equipment from Germany's Si
Foreign interest in Hypershuk.
Israel Business Today; November 27, 1992; 275 words ...be Clal Trading, Koor, The Israel Corporation, the Meir Ezra group and Granit Hacarmel Investment Ltd (via the Ofer Brothers). Although the deadline for filing applications has already passed, the foreign companies believed to be a French...
Revealed: [pounds sterling]5 billion stash of London's secret rich; Rich lists include those who are happy to flaunt their wealth. In the first of a two-part series, we uncover the men determined to stay out of the limelight.
The Evening Standard (London, England); December 13, 2005; 700+ words ...recently pocketed [pounds sterling]330 million from selling one of the divisions to another Israeli family, the Ofer brothers. An indication of Eisenberg's vast fortune came three years ago with a court action brought against an interior...
US sanctions seven for deals with Islamic Rep.--including an Israeli firm.
Iran Times International (Washington, DC); June 3, 2011; 700+ words ...families in Israel, the Ofers control one of the largest Israeli investment firms. There has been some confusion between Ofer Brothers Group, run by Yuli Ofer, and Ofer Holdings, which is run by his brother, Sammy Ofer, and nephew, Idan Ofer...
FEDERAL REGISTER NOTICE CLARIFYING PREVIOUS SANCTION ANNOUNCEMENT (TAKEN QUESTION).
States News Service; September 13, 2011; 300 words ...in the Sammy Ofer shipping organization that were responsible for providing a tanker to Iran. The use of the name "Ofer Brothers Group," a commonly used trade name, caused confusion for some banks and companies that were trying to comply with...
NIS 506.3m. Zim sale completed
Jerusalem Post; February 6, 2004; TAL MUSCAL; 477 words ...decision to divide the shipping company into two entities; one dealing entirely with international operations. The Ofer brothers-controlled Israel Corp., now controls 97.5% of Israel's oldest and largest maritime concern, based on a valuation...
A workout for the brain
Jerusalem Post; April 9, 2004; NICKY BLACKBURN; 700+ words ...s own savings. So far, the company has received a total of $3.5 million in funding. In the last round, the Ofer Brothers, who own the Naiot incubator, also took part. CogniFit's products are based on recent advances in neuroscience...
Dorad to provide Defense with electricity
Jerusalem Post; July 26, 2004; TAL MUSCAL; 490 words ...rather, the company claims its supply of electricity will be cheaper than that of the utility monopoly. Following the Ofer Brothers' OPC withdrawal from construction of the Ramat Hovav power production plant, Dorad is Israel's only private electricity...
Cabinet approves Bazan privatization
Jerusalem Post; July 30, 2004; TAL MUSCAL; 552 words ...Sandberg Thursday to divide and privatize Oil Refineries Ltd. (Bazan), in which the state holds a 74 percent stake. Ofer Brothers, which controls Israel Corp., holds the remaining 26% of the oil refining monopoly. The company's Ashdod refinery...
Israel Corp. Q1 revenue up, profit down: Revenue rose 7.3%, compared with the corresponding quarter of 2006, to NIS 7.1 billion, but net profit fell 32% to NIS 166 million.
Globes; May 30, 2007; 454 words Byline: Erez Wollberg May 30--OferBrothers subsidiary Israel Corp. (TASE: ILCO) today published its consolidated financial report for the first quarter of 2007. Revenue...
Israel Corp. seen injecting $100m into Tower Semiconductor.
Globes; May 17, 2006; 447 words ...million in the fourth quarter of 2005. Capital market assessments that Israel Corp. (TASE: ILCO), controlled byOfer Brothers, will inject $100 million into Tower in exchange for a 20-30 percent stake in the company, and that the banks...
Israeli firms reported interested in Gaza gas
Jerusalem Post; November 22, 2004; MAHER CHMAYTELLI, Bloomberg; 426 words ...with private companies, Fysh said. BG, based in Reading, England, has a preliminary agreement with closely held Ofer Brothers Group to develop power projects. OPC Co., a unit of the Israeli company, won in October a contract to build Israel...
$820m. ship purchase approved
Jerusalem Post; December 10, 2004; ZEV STUB; 395 words ...Corp. said Thursday its shareholders had approved the $820 million sale and lease of 12 ships from its owners, the Ofer brothers, to Zim Integrated Shipping Services, a company it controls. The deal will be one of the largest insider transactions...
Jerusalem Post; December 17, 2004; RUTH BELOFF; 700+ words ...investment in renovation, the Club Med Coral Beach is ready for action. The hotel itself is owned by the Israeli company Ofer Brothers Group, headed by Yuli Ofer. It is being managed by the Fattal Group of hotels, headed by David Fattal. Club Med...
Gov't to discuss Bazan privatization
Jerusalem Post; August 24, 2005; DANIEL KENNEMER; 455 words ...Everything is on hold," she said. Ben-Eliezer has also spoken out against the $120 million compensation that the Ofer brothers would receive for their stake in Bazan, arguing that public assets loaned in a concession revert to the state once...
Israel Corp. agrees to sell its 26% stake in Bazan to state - again
Jerusalem Post; November 4, 2005; YIGAL GRAYEFF; 700+ words ...after the two sides agreed to a price of more than NIS 570m. for the holding. Israel Corp., which is owned by the Ofer brothers, said on Thursday that, before the deal was closed, Bazan would pay out a $100m. dividend. Israel Corp. would...
Report from Israel.(Company overview)
Medical Device Week; October 17, 2006; 700+ words ...private equity investments. Ofer Hi-Tech led by chairman Ehud (Udi) Angel and CEO Yoav Doppelt is part of the Ofer Brothers Group specializing in leading healthcare companies to their optimum development and exit. Beit-On's high level...
Overseas investor joins Ofers in start-up fundings.
Israel Business Arena; May 21, 2009; 331 words ...incubator owned by Ofer Hi-Tech. The goal is to increase the sources of follow-on funding of the incubator companies. Ofer Brothers did not disclose the identity of the foreign investor. Under the pending program, the foreign investor will make...
They are buying. Would you?(Gemini capital fund management buys Yozma Venture Capital's stock)
Israel Business Today; January 31, 1998; 214 words ...up by the government to fund start-up companies. Last year the government sold most of its holdings in Yozma to Ofer Brothers Investment for NIS 51 million and transferred its remaining stake to state owned Inbal Insurance. In '97 two other...
Report from Israel.
Medical Device Daily; October 17, 2006; 700+ words ...private equity investments. Ofer Hi-Tech led by chairman Ehud (Udi) Angel and CEO Yoav Doppelt is part of the Ofer Brothers Group specializing in leading healthcare companies to their optimum development and exit. Beit-On?s high level..
Koor to bid for Histadrut tenders.(Koor Group)
Israel Business Today; October 31, 1995; 325 words ...in all the tenders involving the sale of Histadrut assets. Koor Assets will make a joint bid, with Ashtrom, the Ofer Brothers and Magor, for the land located in north Tel Aviv currently occupied by the former Histadrut headquarters. The site...
Sticking with the Ofers
Jerusalem Post; January 27, 1999; NEIL COHEN; 700+ words ...sell on the confirmation" or an expectation that somehow Israel Corp. shares will be worth less in the hands of the Ofer Brothers than in those of PCS. PCS might have been willing to pay a higher price since its bid was driven by the strategic...
ECW and Zion Cables discuss merger. (Electric Cable and Wire Company of Israel Ltd., Zion Cables United Works Ltd.) (Brief Article)
Israel Business Today; August 12, 1994; 552 words ...and Trade. Both ECW and Zion Cables are listed for trading on the Tel Aviv Stock Exchange. ECW is controlled by the Ofer Brothers who own 40% of the equity. The company's market value is $96 million. Zion Cables is part of the Clal conglomerate...
Hapoalim deal boosts TASE * Oil down 1.7% on inventories
Jerusalem Post; April 15, 1999; News agencies; 700+ words ...72% to 4.21. Israel Chemicals gained 1.90% to 4.82 while parent Israel Corp. slipped 0.48% to 414. The Ofer brothers said they completed the purchase of a 53% stake in Israel Corp. for $330m. from the Eisenberg family, which found...
Competitors Managing Israel's First Private Biotech Incubators.
BioWorld International; December 4, 2002; 586 words ...that won the tenders to establish Israel's first two privatized biotech incubators - the Einav group, headed by the Ofer Brothers, and Yehuda and Zohar Zisapel's RAD Bioscience incubator group - under the condition that they establish a third...
Jerusalem Post; August 20, 1999; Rosalyn Harari, Sonie Lemor; 700+ words ...be allowed to occupy the apartments. This interim decision may harm the Marina Village project built jointly by the Ofer Brothers and Mivnei Gazit. The project consists of 120 two-room apartments with an inclusive area of 50 sq m which were sold...
Natural gas transport tender released
Jerusalem Post; April 6, 2001; TAL MUSCAL; 587 words ...without the cooperation of a local firm. British Gas, together with Dor Chemicals, and Italian Italgas with the Ofer brothers, have also moved on to the final tender stage. Under the tender's terms, the concession winner will be required...
Ofer-Federman partnership increases Oil Refineries stake: Israel Corp. and Scailex now own 50.25% of Oil Refineries after buying shares for NIS 254 million.
Globes; February 27, 2007; 420 words ...Shuster Feb. 27--The Ofer-Federman partnership is tightening its control in Oil Refineries Ltd. (TASE:ORL). OferBrothers subsidiary Israel Corp. (TASE: ILCO) and Scailex Corp. ltd. (TASE: SCIX; SCIXF.OB) subsidiary Capital Petroleum...
Government puts its Zim shares up for sale
Jerusalem Post; May 25, 2001; GWEN ACKERMAN and TAL MUSCAL; 696 words ...government corporations, the Israel Corp., and parties related to it. It is known that Israel Corp. owners, the Ofer Brothers, have not been keen on the privatization of the company, but the government hopes that the publication of the tender...
Storerooms at Herzliya Marina used as apartments
Jerusalem Post; August 10, 2001; City Lights Staff; 424 words ...shelter or a sealed room ..." The tenants say that they have not succeeded in getting any reply to their letter to Ofer Brothers, the company which sold them the apartments. Ofer Brother spokesman Ran Rahav said in reaction: "The company sells...
BRIEF: Maersk Line ending direct shipping to US from Haifa: The departure could result in a 5-10% increase in shipping prices to the US.
Globes; July 29, 2007; 437 words ...Port Said. In the wake of Maersk's departure from Israel, Zim Integrated Shipping Services Ltd., controlled by OferBrothers through Israel Corp. (TASE: ILCO), will become the leading shipper between Israel and the US. Port sources say...
TASE falls after wave of terror
Jerusalem Post; December 3, 2001; Globes Business Arena; 385 words ...on relatively high turnovers. The interest in Koor, which slipped 1%, is against the backdrop of the plan by the Ofer Brothers and Shlomo Dovrat to invest $50 million in ECI Telecom. With a 1.8% decline yesterday, no reason could be found...
Rothschild, European companies to bid on biotech incubator
Jerusalem Post; April 1, 2002; GWEN ACKERMAN; 683 words ...sell them anything," he said. Other groups bidding on the two biotech incubators include a consortium led by the Ofer Brothers, together with the international biotech company Genzyme, and a group that includes the international pharmaceutical...
Gemini buys gov't out for NIS 33m.
Jerusalem Post; January 30, 1998; DAN GERSTENFELD; 282 words ...with local and foreign partners and has invested directly in 11 start-up companies. Yozma was sold last year to Ofer Brothers Investments for NIS 51m. and its holdings in the venture capital funds have been transferred to state-owned Inbal...
BRM Capital to cut fund by $100m.
Jerusalem Post; July 4, 2002; GWEN ACKERMAN; 608 words ...BRM Capital had failed to make any new investments last year and investors - which include Koor Industries, the Ofer Brothers, Bezeq, IBM, NTT Data, and private backers - had questioned the need to keep the level of commitment intact...
Change of guard at Israel Corporation: Nir Gilad will replace Yossi Rosen as CEO at Israel Corp., one of Israel's largest investment companies.
Globes; March 27, 2007; 553 words Byline: Roy Meltzer Mar. 27--OferBrothers subsidiary Israel Corp. (TASE: ILCO) today announced that Nir Gilad will replace Yossi Rosen as president and CEO. Rosen...
ECI Telecom to lay off hundreds as revenues to fall 17%
Jerusalem Post; August 9, 2002; MATI WAGNER; 700+ words ...Dovrat - who founded Tecnomatix and a founding general partner of venture-capital fund Carmel Ventures - and the Ofer Brothers, who control the Israel Corp. holding company. Following the release of ECI's results the company's share lost...
2,500 new apartments planned for Acre
Jerusalem Post; December 5, 1994; GALIT LIPKIS BECK; 700+ words ...interchange in Haifa. The chain has rented 525 sq.m. from a company jointly owned by Ashtrom, Koor, Magor, and the Ofer Brothers. Other chains already situated in the mall include Office Depot, Ace, Beitilli, and Super Caramics. McDonald...
Franklin Templeton sues Taro and controlling shareholders: "Taro is being run in a defective and scandalous manner which may lead it to insolvency.".
Globes; May 10, 2007; 700+ words ...Nasdaq: TARO.PK) have been anxiously waiting to see who will eventually buy control of the company. Will it be Ofer Brothers' Ofer Hi-Tech fund, or maybe the drug company Perrigo which acquired Agis. Could it be Israel Cold Storage or...
KiloLambda, Kanata Ontario.(Brief Article)
Fiberoptic Product News; July 1, 2001; 219 words ...modules for communications applications, raised $3.5 million in first-round funding. Skypoint Capital Corp., Ofer Brothers Group and The Yozma Group also participated in the round. The new money will be used for the company's optical lab..
Zim Integrated Shipping in $732 million expansion.(Update)
Marine Log; December 1, 2004; 202 words ...reportedly outlined plans for acquisition of 12 boxships in a $732 million deal. Israel Corp. (controlled by theOfer brothers) is the purchaser of the ships, and their transfer to Zim's control is subject to approval by its board. The purchase...
Israel gets Ofer it cannot refuse.
Australasian Business Intelligence; January 23, 2004; 329 words ...shipping group appears certain following an offer of 504 million shekels ($US115 million) from Israel Corporation. The Ofer brothers, who control Israel Corporation, already own 48.9 per cent of Zim Israel. They also aim to purchase the 2.5...
Gas law paves the way for Egyptian imports.(Brief Article)
MEED Middle East Economic Digest; January 21, 2000; 671 words ...Middle East Energy; El-Paso Energy of the US, with Gaz de France and the local Amisragas; Italgas, with the local Ofer Brothers; and UK-based BP Amoco, with Belgium's Tractebel and the local Paz Oil Company (MEED 29:10:99). The contract...
Zim to buy 2 container ships for $92m: The company has an option to buy two more ships of the same size for $97.8 million. Globes; June 26, 2007; 350 words ...Hyundai Shipyards for $1 billion. Zim is a wholly owned subsidiary of Israel Corp. (TASE: ILCO), controlled by OferBrothers. To see more of the Globes or to subscribe to the newspaper, go to http://www.globes.co.il. Copyright...agreement signed with the Ofer Brothers for the establishment of private power plants would justify the development...to spend his money in Israel and expand the joint projects with the Ofer Brothers.
In The Frame
Jerusalem Post; October 2, 1998; Angela Levine; 598 words ...PAINTED 220-meter mural stretches along the walls of the parking lot at Ra'anan, the new shopping mall built by the Ofer brothers in the industrial zone of Ra'anana. Mike Friedland and Yuval Avidani, its creators, used brightly colored acrylic...
DEPUTY SECRETARY OF STATE JAMES B. STEINBERG DEPUTY SECRETARY OF STATE JAMES B. STEINBERG HOLDS A STATE DEPARTMENT NEWS BRIEFING ON IRAN SANCTIONS
Washington Transcript Service; May 24, 2011; 700+ words ...CompanyInternational, PCCI, Jersey and Iran, Royal Oyster Group, UAE, Speedy Ship,UAE Iran, Tanker Pacific, Singapore, Ofer Brothers Group, Israel, AssociatedShipbroking, Monaco, and Petroleos de Venezuela, sometimes known as PDVSA,in Venezuela...
Much ado about....
Jerusalem Post; June 1, 2011; GREER FAY CASHMAN; 700+ words ...was one of the recipients of the Moskowitz Prize for Zionism, that preoccupation with the scandal surrounding the Ofer Brothers' involvement with Iran had been exaggerated out of all proportion - and he maintained the air of mystery associated...
Ashkelon desalination plant begins pumping potable water
Jerusalem Post; August 5, 2005; DANIEL KENNEMER; 700+ words ...25%), and Elran Infrastructures (25%). IDE is held jointly by Israel Chemicals Ltd. (itself part of the Ofer brothers' Israel Corporation) and the Delek Group, while Elran is owned by the Dankner Group, the First International Bank...
Shush! Look who's talking!
Jerusalem Post; June 12, 2011; Liat Collins; 700+ words ...making up for it. Dagan's recent volley of comments relates to everything from the plight of Gilad Schalit to the Ofer brothers' standing in the wake of the US sanctions on their shipping company for allegedly maintaining trade ties with Tehran...
Knesset expands punishment for trading with Tehran
Jerusalem Post; June 28, 2011; LAHAV HARKOV; 362 words ...limit state contact with companies that trade with Iran. The change came after the US State Department sanctioned the Ofer Brothers Group in May for allegedly sending a tanker to Iran. Sammy and Yuli Ofer denied the charges. Sammy died days later...
Bino amasses funding for Oil Refinery Ashdod purchase: Bank Hapoalim will head the syndicate, syndicate that will include Discount Bank and Israeli and foreign insurance companies, pension and provident funds.
Globes; September 7, 2006; 660 words ...because bank financing would have to take into consideration the holdings in Israel of Israel Corp's parent company Ofer Brothers. These include stakes in Israel Chemicals Ltd. (TASE: CHIM), Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE...
H2ID consortium wins Hadera desalination tender: The consortium won with an offer of NIS 0.60 per cubic meter of water.
Globes; September 19, 2006; 483 words ...desalination facility tender, in which IDE is a member of the consortium. Delek Group Ltd. (TASE: DLEKG) and Ofer Brothers jointly own IDE. The current cost of desalinated water is NIS 2.75 per cubic meter. H2ID beat a consortium comprising...
Israel Corp. buys half of Eastern European oil co: Israel Corp. will invest $132 million to expand the company's biodiesel production.
Globes; November 19, 2006; 341 words ...deal is subject to due diligence. The MOU is valid through March 1, 2007. Last week, Israel Corp., controlled byOfer Brothers, issued NIS 650 million in index-linked bonds. The offering was oversubscribed four-fold, so the company increased...
Jerusalem Post; February 9, 1999; JESSICA STEINBERG; 481 words ...from $225,000 and up. The City Tower project is a joint real estate venture of the Yitzhak Teshuva Group, the Ofer Brothers, and A. Dori Co.In Tel Aviv, a two-room, 56-sq.m. apartment on Rehov Ussishkin, was sold for $183...
Jerusalem Post; May 11, 1999; Greer Fay Cashman; 700+ words ...the system. The two were snapped at the official opening of the Meridien Hotel, Eilat, which was one of the many Ofer Brothers properties. Among the hotel's attractions are singing waiters. One of them, Nati Nissan, became a soloist, serenading...
Refinery IPO set for Feb 15: The Government Companies Authority will initially float 50.01% the company.
Globes; November 23, 2006; 408 words ...Leader Underwriters (1993) Ltd., and the foreign distributors are Merrill Lynch, Lehman Brothers and JP Morgan. Ofer Brothers subsidiary Israel Corp. (TASE: ILCO), Israel Petrochemical Enterprises Ltd. (TASE:PTCH), and international...
Cables of Zion, Cvalim begin merger talks
Jerusalem Post; January 13, 1997; GALIT LIPKIS BECK; 397 words ...LIPKIS BECK Jerusalem Post 01-13-1997 Cables of Zion, a subsidiary of Clal Industries, and Cvalim, controlled by Ofer Brothers Investments, are in preliminary discussions to merge, Clal said in a notice to the Tel Aviv Stock Exchange yesterday...
Siemens to build Ramat Hovav power plant
Jerusalem Post; March 5, 2001; SHARON BERGER; 700+ words ...selected to build the first natural gas power plant in Israel on behalf of the OPC-Ramat Hovav company, owned by the Ofer brothers. The plant's construction is expected to cost $200 million, including infrastructure development. The 370-megawatt...
Zim is on the auction block again
Jerusalem Post; May 31, 2001; Jessica Steinberg; 700+ words ...he felt it would be easier for Israel Corp. to hold 100% of the shipping concern. "It would be easier for the Ofer Brothers since they're Israelis and understand the procedures that go with government requests," Nir said. The Ofer group...
Markets in brief
Jerusalem Post; July 6, 1998; Dan Gerstenfeld, Nina Gilbert; 584 words ...Johnson hotel, whose franchise here is held by the company. The venture is to be carried out in partnership with the Ofer Brothers and developer Roni Yitzhaki, who owns the land at present. ILD and Ofer are to each pay $1.17 million for their...
Koor to write off $17.8m. on ECI's private placement
Jerusalem Post; December 7, 2001; DAN GERSTENFELD; 403 words ...Dovrat - who founded Tecnomatix and is a founding general partner of venture capital fund Carmel Ventures - and the Ofer Brothers, who control the Israel Corp. Following completion of the deal, Koor will hold 30.5% of ECI (down from 34...
Jerusalem Post; January 18, 2002; Rosalyn Harari & Irit Mathias; 700+ words ...places limited. Reservations: 09-884-4667. The right address The "2 in Givatayim Project" being built by the Ofer Brothers' Group together with Mivney Gazit "is one of the most exclusive projects in the area, with 153 prestigious apartments...
Biotech tender winner to be announced by June
Jerusalem Post; April 2, 2002; GWEN ACKERMAN; 505 words ...one of which will be in Jerusalem, within eight weeks. Four groups bid in the tender: the Einav group, led by the Ofer Brothers, who operate a biotech incubator in Nazareth; the Rad Bioscience group, headed by the Visatel Brothers, who operate...
Lumir to build Herzliya Center. (Construction and Real Estate)
Israel Business Today; December 13, 1991; 223 words ...is to build a 13,000 square meter business center in the Herzliya Pituach industrial area in conjunction with the Ofer brothers. The center will comprise a commercial area of about 2,000 square meters, three floors of offices, a trading basement...