Egg-Products Firm Cham Says The Billionaire Is Eyeing It Too

ISRAEL - Billionaire Arcadi Gaydamak took Israel's capital market by storm. Inside a month he bought controlling interests in - count 'em - four publicly traded companies, agreeing to hand over a total of NIS 1.3 billion.
calendar icon 13 June 2007
clock icon 2 minute read

The four are Ocif Investment & Development, Gilon Investments, Ameris Holdings (Petro Group), and Tiv Taam, a non-kosher supermarket chain that Gaydamak has already said will stop selling pork. Tiv Taam hastened to qualify this, saying it will stop selling pork if its board says it will.

TheMarker has thus decided to track the performance of these companies in a weighted index, the Gaydamak Index, starting yesterday, June 12.

The Gaydamak Index lost 8.5 percent yesterday.

The index is compiled by factoring in the market capitalization of the companies the Russian-Israeli bought, as of their closing market cap on June 11. Therefore, Ocif, the biggest company of the lot, comprises 51 percent of the index. Tiv Taam comprises 24 percent, Petro Group 18 percent and Gilon Investments 7 percent.

It's an open question whether the eggs and egg-products company Cham Foods will join the index, mainly because it's an open question whether Gaydamak is about to buy it. Cham says there are talks in that direction, or at least, that one of his representatives was in touch. Gaydamak says there aren't. Anyway, if he does buy Cham, then it will join the index too.

Source: HAARETZ.com

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