Four bids had passed to the next stage following the meeting of bondholders' representatives of Africa-Israel Investments Ltd (TASE:AFIL). The four bids were by Brosh Funds Management Ltd., Globalworth Real Estate Investment Limited (AIM:GWI), Patron Capital Limited and Lone Star Funds. As of now, current controlling shareholder Lev Leviev, who submitted a binding bid in cooperation with Moti Ben-Moshe, is not on the list of leading bids.

Leviev himself, however, does not require due diligence, and therefore can submit a revised binding bid with partner at the end of the second stage in the process, should they wish to do so.