JERUSALEM Aug 19 Israeli real estate developer
Azrieli Group said on Tuesday that control of the
company had been transferred to the three daughters of David
Azrieli, who died last month at the age of 92.
David Azrieli, an architect by profession, had stepped down
in early July as chairman of the group due to poor health. His
daughter, Danna, is serving as acting chairwoman.
Danna and her sisters, Sharon and Naomi, will hold 55.62
percent of Azrieli Holdings, the parent of Azrieli Group, after
David's shares were transferred to his daughters following his
They will also hold more than 50 percent of the company's
voting rights and have the right to nominate one of three
directors to the Azrieli Holdings board.
Azrieli Group has numerous investments in Israel. It built
the country's first shopping malls and Tel Aviv's landmark
Azrieli Centre, a complex of office towers and shopping areas.
Born in Poland in 1922, Azrieli survived the Holocaust and
fought in Israel's War of Independence before moving to Canada,
where he made his fortune in real estate. He opened Israel's
first mall in a Tel Aviv suburb in 1985.
(Reporting by Steven Scheer; editing by David Clarke)