Egged Public Transportation gets NIS350m shareholder dividend approved
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Egged Public Transportation Company (“Egged”) has had a planned NIS350 million dividend to shareholders approved by the Tel Aviv District Court.
The company had submitted a request to the Economic Department in the Tel Aviv-Yafo District Court to have the distribution of the dividend approved, in accordance with the provisions of Section 303 of the Companies Law.
As a result, Egged owner, Keystone Foundation, together with other funds, will receive a dividend of NIS276 million. Egged’s founders are expected to receive around NIS184 million.
Gornitzky & Co. advised the company, with key roles played by Pinchas Rubin, Yair Shiloni, Inbar Boinjo, and Harel Leibovich-Shalev, as well as Perry Zinger and Hodaya Ben Shay Fish. Read more in Calcalist
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