Haim Saban, the former controlling shareholder of Partner, opposes the sale of Hutchison’s shares in the company to the Rodav-Gabay Group. Saban believes that the trustee for the shares, Adv. Ehud Sol, is obliged to hold a tender to maximize the price.
Attorney Sol filed a lawsuit in court earlier this week to approve the sale for $ 300 million, which is the amount of debt Saban was supposed to pay to Hutchison, and therefore waived the shares.
Saban estimates that a higher price could be obtained for the shares if a tender had been held, which means that the amount in excess of $ 300 million, he should have received and thus reduced his damages.
Saban received a loan from Hutchison as part of the acquisition of Partner. The loan was to be repaid in one installment of $ 300 million or Saban repaid the shares and gave up the company.