INDUSTRY NEWS

Billionaire hopes to purchase stake in Broadgate

Nochi Dankner, the Israeli billionaire, is looking to buy a £100 million stake in British Land’s Broadgate Estate. The 32-acre London estate, which comprises retail and office space and includes the 164-metre high Broadgate Tower, was recently valued at £2.3 billion.

Dankner is the head of IDB group, the Israeli Discount Bank, which has assets of over $30 billion. He acquired IDB in 2003,when Israel was in the grip of a deep recession as a result of political and military developments amid a weak global economy.

Earlier this year, Dankner stated his intention to increase foreign investment. ‘IDB wants to acquire more overseas companies. We are investigating additional deals and not only in the financial sector. There are risks in Israel, and therefore it is only logical that a group like IDB would want to undertake activities outside of the country.’

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