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Article: Africa Israel tender to proceed as scheduled
- Article from:
- Jerusalem Post
- Article date:
- October 1, 1996
- Author:
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GALIT LIPKIS BECK
Jerusalem Post
10-01-1996
BANK Leumi intends to go ahead with plans to publish a tender by Thursday to sell its surplus shares in Africa Israel, despite the uncertain political situation, a Bank Leumi spokesman said yesterday.
The spokesman said the bank does not think the security situation will hinder potential investors from participating in the tender.
To enable Bank Leumi to comply with the requirements of the newly redefined Banking (Licensing) Law, Leumi must reduce its holdings in Africa Israel (excluding the Migdal insurance company) from 65 percent to 25% by the end of this year.
It is not yet clear if Bank Leumi will also sell shares in Africa Israel to ...