The hostile sell-off of assets by Delek Real Estate Ltd., proscribed by Yitzhak Tshuva, has not solved the company's huge cash problem, so Tshuva is now donation a completion to the company's bondholders. The company owes its bondholders NIS 2.3 billion.
Sources inform ''Globes'' that Delek Real Estate is contribution to convert bonds into shares at par value. The conversions will be made in several steps, every amounting to several hundred million shekels. At the same time, the company will sell all its possessions in Canada and Israel.
Delek Real Estate owns income-producing properties in North America as well as Western Europe through Delek Global Real Estate plc, and inhabited properties in Israel from end to end Elad Israel Residences Ltd.
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