The Recanati family has officially notified Maccabi Tel Aviv's shareholders that it is exercising its right of first refusal to purchase the Federman family's entire stake for $50 million, according to N12.
The Recanati family has formally notified Maccabi Tel Aviv's shareholders that it is exercising its right of first refusal to acquire the Federman family's entire stake in the club for $50 million, according to N12. The move confirms the family's earlier announcement of its intention to purchase the combined Federman and Stilman stakes, as The Zioneer reported at 19:56 Jerusalem time.
The right of first refusal was triggered by the Federman family's decision to sell their shares. The exercise of this right effectively ends the Federman family's involvement with Maccabi Tel Aviv. The $50 million price tag values the stake at a premium, reflecting the club's standing in Israeli basketball.
The notification represents a formal step in the ownership transition. The status of the Stilman family's stake, which was also part of the earlier announcement, remains to be clarified. The transaction is expected to close pending any regulatory approvals.
3 developments
- StrongFederman Family Sells Maccabi Tel Aviv Stake to Recanati Family After 90 Years
- DevelopingMaccabi Tel Aviv Sponsor Accuses Recanati Family of Deceiving Shareholders
- StrongRecanati family informs shareholders of plan to sell 29% stake in Maccabi Tel Aviv to Jason Levin
- DevelopingRAPID Founder Eric Stilman Reportedly Offers $100M for Recanati Stake in Maccabi Tel Aviv
Source and signal
- Open-source intake