Adam Chesnoff, Haim Saban’s business manager, intends to attend and be present at a hearing to be held tomorrow (Monday) in the Tel Aviv District Court regarding the delay in the Partner transaction. Cheznoff is leading the Saban Group’s opposition to the deal to sell the shares to the Rodev-Gabay Group, demanding a tender for the shares.
Cheznoff also filed an affidavit rejecting the receiver’s claimant’s lien on Hutchison’s shares in Partner that the Saban Group knew about the receiver’s contacts for the sale of the shares and knew he was conducting a non-tender procedure to sell them.
Estimates were circulating today that the Saban Group wants to submit a bid and repurchase the shares but it is doubtful only if it can and whether the court will approve it.
The Saban Group relinquished the shares in 2019 as part of a $ 300 million debt it had to Hutchison. The latter appointed Adv. Ehud Sol as receiver on her behalf for the pledged shares. Adv. Sol decided to sell the shares to the Rodav-Gabay Group and sought the court’s approval.
From then on, the matter became complicated following surprising opposition from the Saban Group, which demanded a tender for the shares, even though according to Hutchison’s transaction price and the waiver of interest on the debt, it should not profit from it. Hence the source of estimates that Saban is considering bidding on the shares after returning them and so he is trying to delay the deal.