Discount Investment, headed by Nataly Mishan-Zakai, currently has a market cap of just NIS 636 million, after a 60% drop in its share price in the past year.Īgainst the threatening bond debt, Discount Investment holds the controlling interest (63%) in Property & Building, which controls income-producing real estate company Gav Yam Lands Corp. The group paid a total of NIS 1.1 billion for the shares in Discount Investment, which now looks like a failed investment, giving a paper loss of over 50%. Besides Nahmias, who serves as chairman of the company, it consisted of the Salkind brothers’ Elco, which like Mega Or holds 30% of Discount Investment, retailing and aviation magnate Rami Levy (11%), and Chen Lamdan (5%). The buyers were considered an all-star business group. ![]() Just over two years ago, a consortium of investors headed by Tzahi Nahmias’s income producing real estate company Mega Or won an auction of the 82% controlling stake in the company by the receiver of IDB, beating the bid of the former controlling shareholder in IDB and Discount Investment Eduardo Elsztain. ![]() In the absence of any possibility of recycling the debt, the company will have to find other ways of raising the money required to meet its commitments.ĭiscount Investment is a holding company without a controlling interest. Discount Investment’s three series of bonds, amounting to an aggregate NIS 2.2 billion, are currently traded at yields of 12-14%. These yields indicate a rise in the level of risk that investors attribute to the companies, blocking access to recycling of debt on the market.
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