The companies El-Al and Maman (transport terminals and Handling) signed an agreement according to which Maman will allocate 15% of the shares from Mamans capital, in addition, El-Al was granted an option to purchase 10% more of Mamans’ issued shares, which are exercisable to them six years from the grant date. Also, under the agreement, Maman shall grant El-Al discounts for terminal services during the period of the agreement.
Antitrust Commissioner denied the agreement in the first stage of the deal for fear that the agreement may be alleged cartel and exploitation of abuse of a monopoly. Perlman & Co. advised Maman and filed a financial opinion report to the Antitrust Authority. After thorough examination, the Antitrust Commisioner approved the transaction. During this process Maman was represented by Erdinast Ben Nathan & Co. Law Firm.