Rani Zim pulls NIS 250m deal in face of investors' anger
Zim had proposed that Group Psagot should buy his stake in Rani Zim Shopping Centers. He controls both companies.
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Zim had proposed that Group Psagot should buy his stake in Rani Zim Shopping Centers. He controls both companies.
Group Psagot has notified the TASe that it is in preliminary talks to sell Psagot Investment House for NIS 320-340 million.
Capital market source: There’s a big difference between the worlds of real estate and finance.
Psagot added that the activities being sold include assets under management worth NIS 17.1 billion and that after the sale it will retain assets under management worth about NIS 30 billion.
The deal to buy Psagot's portfolio management and ETF business will enable chairperson Rani Zim to reduce leverage.