Article Summary:

Online Forex Trading News, Anlysis, Tips, Reviews, and Videos.So if my maths are correct, AVAFX is currently worth around mio, down from mio worth in the original deal.
Interesting…
Francesc
Clal Finance sells remaining stake in forex unit AVA
The buyers exercised their option they were granted in October.
Clal Finance Ltd. (TASE:CLFN)


Article Content:
So if my maths are correct, AVAFX is currently worth around mio, down from mio worth in the original deal.

Interesting…

Francesc

Clal Finance sells remaining stake in forex unit AVA
The buyers exercised their option they were granted in October.
Clal Finance Ltd. (TASE:CLFN) has sold its remaining stake in foreign exchange broker AVA Financial Ltd. to its founders, CEO Emanuel Kronitz and chief marketing officer Negev Nosatzki.

In October 2009, Clal Finance sold 16.5% of its holding in AVA, half its stake at the time, to Kronitz and Nosatzki, and gave them a one-year option to buy the remaining 16.5%. Today, they exercised it.
Kronitz and Nosatzki will pay Clal Finance .5 million (NIS 25 million) for the shares. The strike price was revised downward from the .49 million set in the original deal in parallel with bringing forward the exercise date of the option.


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