|
|
Article: Menorah buys 4.99 percent of Prisma for NIS 46m: Prisma will market Menorah Mivtachim Pensions' products.
- Article from:
- Globes
- Article date:
- July 4, 2007
CopyrightCOPYRIGHT 2007 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Erez Wollberg
Jul. 4--Menorah Mivtachim Holdings Ltd. (TASE: MORA) has acquired 4.99 percent of Prisma Capital Markets Ltd. from Markstone Capital Partners Group LLC for NIS 46 million. The deal gives Prisma a company value of NIS 925 million.
The size of Menorah's holding is no coincidence; as it is less than 5 percent, the insurance company will not be a party at interest in Prisma, which means that the Supervisor of Capital Markets, Insurance and Savings does not have to approve the deal.
Two Menorah subsidiaries, Menorah Mivtachim Insurance Ltd. Menorah Mivtachim Pensions Ltd., have signed agreements with Prisma. One agreement is ...