Kenny Rozenberg immigrates to Israel
The father of El Al controlling shareholder Eli Rozenberg
immigrated to Israel today and plans living in Jerusalem.
Kenny Rozenberg, the American billionaire father of Eli
Rozenberg, who became controlling shareholder in El Al Israel Airlines Ltd.
(TASE: ELAL) six months ago, has immigrated to Israel. He touched down at Ben
Gurion airport this afternoon on an El Al flight from New York and was greeted
by the airline's management and received his ID papers and citizenship.
Kenny Rozenberg financed the El Al deal for his son and has
so far Rosenberg's parent company Kanfei Nesharim has invested $160 million in
the airline in two rounds of public offerings on the Tel Aviv Stock Exchange
(TASE). That amount is expected to grow to $200 million after El Al receives an
upfront payment of NIS 1 billion from the Ministry of Finance for fees for
aircraft security over the next year. According to the package, the payment
will be contingent on the controlling shareholder injecting more money into the
company.
Kenny Rozenberg was not able to himself become the
controlling shareholder in El Al because he did not hold Israeli citizenship.
Today he received his Israeli ID papers and can now in theory become the
controlling shareholder in the airline together with his son.
Kenny Rozenberg, a US citizen, submitted a request to
immigrate to Israel several weeks ago and he plans living in Jerusalem. He
arrived in Israel today accompanied by an entourage, which included senior
executives from his US company, as well as other new immigrants.
Sources inform "Globes" that Kenny Rozenberg
received special permission from the exemptions committee to fly to Israel and
has asked to relinquish his rights to financial support as an immigrant.
Kenny Rozenberg is the founder, owner and CEO of Centers
Health Care, which owns and operates dozens of nursing homes, rehabilitation
centers and care facilities in North America. His son Eli Rozenberg immigrated
to Israel several years ago and lives in Jerusalem.
The Ministry of Aliyah and Integration said, "We cannot
provide information about immigrants that do not allow information about them
to be provided. But if the report is true then we welcome all immigration and
certainly by a person of his status who has contributed to Israel in this
difficult time."
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