PDI shareholders agree to sell

THE shareholders of Personal Direct Insurance today signed an agreement to sell the company to Direct Insurance for Sh74m ($17.8m), writes David Lipkin, Tel Aviv.

Of this sum, Sh10m ($2.41m) will be deposited in trust, pending clarification of still unsettled matters. The Schneidman family‘s demand that Sh94m ($22.7m) not be paid for the company as stipulated in the original contract, but only a much lower sum, was thereby accepted.