The economic newspaper Globes reported that the ceremony for transferring control of IDB to the new controlling owners, Moti Ben-Moshe and Eduardo Elsztain, which took place on Wednesday in Tel Aviv, was a "delusional" event, as they described it, and included a mincha prayer, a "Shechayinu" blessing, and a Hasidic dance.
The ceremony was the closing of the debt arrangement, and was held in the presence of most of the IDB management. A few hours before the ceremony, Aharon Fogel, the interim chairman of the concern, was fired, and in his place Edelstein and Ben Moshe were appointed co-chairmen.
The partners also appointed their own members to the board of directors - Ben Moshe's father, Elshtein's brother, and two lawyers who are very close to the partners.
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Eyal Gabbay, one of the outgoing board members, warned the partners in his speech, saying: "I tell Elstein and Ben Moshe, the patience of the capital market has run out, what raised you can work against you. Today, your partners are the bondholders who have become shareholders, you run the company with them and for them.".
