Debt load spells rocky road ahead for Alon group

30.05.2012                      09.Siwan. 5772

Wirtschaft:

Debt load spells rocky road ahead for Alon group

The privately owned energy and retail group has some NIS 3b in debt, less than the value of its assets.

Highly leveraged holding companies in the public domain have been visibly rocked the past year by plummeting profitability and share values, constraints on pulling dividends, and inability to roll over their debts. Notable among these are Nochi Dankner's IDB pyramid group, Ilan Ben-Dov's chain of companies, Yossi Maiman's Ampal-American Israel Corp., and Mori Zisser's Elbit Imaging….