Controversy Blocks
El Al Privatization
Dutch beer giant Heineken was
to take over Netanya-based Tem-
po Beer Industries was dealt a
sudden and potentially fatal blow
Jerusalem (JPFS) — Differences when minority shareholder Moshe
in opinion among members of the Podhorzer backtracked from his
government committee on the pri- intention to sell his 45.5 percent
vatization of El Al are preventing stake in the company to chairman
the compilation of its recommen- Jack Beer and Heineken.
Mr. Beer's option to purchase
dations.
The committee should have Mr. Podhorzer's stake expired
presented its proposals to Prime May 3, and Mr. Podhorzer's an-
Minister Binyamin Netanyahu by nouncement said he would not
renew it. For his part, Mr. Pod-
early January, but ongoing dif-
ferences over the method of pri- horzer's options agreement was
vatization and particularly the conditional on Heineken's acqui-
thorny issue of flights on Shabbat sition of control in Tempo.
Heineken executives are due to
are causing the hold-up, accord-
arrive in Israel in a bid to re-open
ing to an official.
However, another government negotiations, but Mr. Podhorzer
source denied there are disagree- stressed he will not reach agree-
ments and said the committee is ment with them under the pre-
only weeks away from completing sent terms.
Mr. Podhorzer said from now
its work.
on he will look to keep the com-
pany under domestic control, de-
spite the possibility that a
strategic international partner
could be of benefit.
The issue is the latest in a se-
ries of rows between Mr. Beer,
Jerusalem (JPFS) — Elbit and a who is married to Mr. Bornstein's
Sao Paulo aircraft manufacturer daughter Rina, and director
have signed a contract to develop Moshe Podhorzer, who is married
mission avionics for the Brazilian to Mr. Bornstein's other daugh-
Air Force's ALX program, the par- ter, Bilha, and owns a controlling
ties announced during an air show share in mineral-water producer
in Brazil.
Neviot, which is distributed by
The contract's value was not Tempo.
disclosed.
Elbit will supply an avionic
suite, which includes a modular
computer, LCD color displays,
head-up displays, advanced nav-
igation system and armament sys-
tem. Embraer, Brazil's largest Jerusalem (JPFS) — United
aircraft manufacturer, will inte- States business arbitration com-
grate the Elbit avionics to the pany Negotiator Pro Co. has
launched its Israel subsidiary,
ALX.
Mediation & Negotiation Ltd.-
Settlement of Disputes.
The company's aim is to en-
courage commercial enterprises
to settle problems out-of-court.
After the issues are negotiat-
Jerusalem (JPFS)— Israel's first ed and a compromise reached, an
entry into the Japanese Samurai agreement will be signed be-
bond market has been delayed, tween the parties and the com-
Accountant-General Shai Talmon pany. If needed, the company will
said. The delay is attributed to the send the agreement on to the
Japanese Finance Ministry's on- courts for formal approval.
going investigation into the activ-
In addition to this service, the
ities of Nomura Securities Co. company also hopes to market
Ltd., allegedly guilty of making relevant computer programs and
transactions in breath of the coun- courses for university students.
try's Securities and Exchange
Law.
Israel wants to draw as much
attention as possible to its
planned issue and would rather
wait until the Nomura scandal
has faded, according to Mr. Tal- Jerusalem (JPFS) — With the in-
mon. The issue, in which the Is- troduction of free trade on May
raeli Treasury intends raising 1, trade volume between Israel
some 15-20 million yen, is likely and Turkey is expected to double
this year, according to Israel-
to take place later this year.
Turkey Business Council chair-
man Pini Peled.
Bilateral trade totalled $450
million last year, excluding mil-
itary deals. In the first quarter
this year the figure reached $150
Jerusalem (JPFS) — The osten- million.
sibly concluded deal by which
Elbit In Brazil
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