The Haifa District Court appointed a court-appointed receiver following a petition filed by Extra Credit, a private financing company, seeking recovery of an outstanding debt amounting to approximately NIS 15 million. A formal foreclosure order was issued on 7 June.  

Sakal’s bid exceeded the USD 4.2 billion definitive agreement previously reached between ZIM, Hapag-Lloyd, and FIMI Opportunity Fund IV L.P. However, ZIM’s Board of Directors declined to evaluate Sakal’s proposal, citing that the transaction with the aforementioned parties had already been formally executed and was pending regulatory approvals.  

According to Calcalist, Sakal did not publicly disclose the sources or structure of financing underpinning his offer. The report further notes that Sakal has recently conducted preliminary discussions regarding a potential acquisition of Arkia Israeli Airlines Ltd.  

Sakal is currently engaged in negotiations with Extra Credit to reach an out-of-court settlement, under which he would repay approximately NIS 13 million in principal, with interest charges reduced accordingly. Additionally, Sakal indicated that he expects to receive a commission from an ongoing mining-related transaction in Africa, which he anticipates will support full repayment of the outstanding obligation.  

In response to the report, Sakal stated: “The article contains factual inaccuracies. The Sakal family has consistently upheld its commitments to all affiliated companies and fulfilled all financial and operational obligations.”  

Resource.: https://mp.weixin.qq.com/s/PItGuN1G1AYV5mxbCciMfg