Fattal buys share of Protal Tourism in transaction worth appx NIS500m
Categories: Corporate and M&A
In a transaction worth approximately half a billion shekels, Fattal’s hotel chain – controlled by David Fattal – acquired the Amoyel family’s share in their joint company, Protal Tourism.
This deal makes Fattal the sole owner of 11 hotels in Israel, previously co-owned by both parties.
The majority of the proceeds will be transferred in cash, and in addition, Fattal will transfer their rights in the Harrods Eilat complex to the Amoyel family. This move comes after a fruitful 15-year partnership.
Gornitzky acted for Fattal in this acquisition.
