Brown Hotels has filed a request to the court to approve its sale to Israel Canada (TASE: ISCN). In the request Brown Hotels said that Israel Canada has committed to buy the business operations of eight of its hotels and its brand.
In September, Israel Canada, controlled by Barak Rosen and Asi Touchmair signed two non-binding memorandums of understanding (MoUs) to acquire the activities of Brown Hotels in Israel and Greece. At the same time talks were held to merge Israel Canada’s hotel activities into the DNA Group stock market shell,…
