The Government Companies Authority has issued Rozenberg with a permit to buy a controlling stake in the financially troubled airline.

Eli Rozenberg has been granted a permit by the Government Companies Authority to buy a controlling stake in El Al Israel Airlines Ltd. (TASE: ELAL). Rozenberg, the son of New York-based businessman Kenny Rozenberg, has bid $75 million for a 44.9% controlling stake in the financially troubled airline.

Eli Rozenberg said, "I thank the Government Companies Authority for its professional and profound examination of the matter. And now comes the moment of truth - my offer is the only way to rehabilitate El Al and take it forward to where it should be. Read more at Globes