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Wed: Teva, NICE drag down TASE Teva and NICE led the declines today but Elbit Systems bucked the market. The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.29%, to 1,591.81 points; the Tel Aviv 125 Index fell 0.48%, to 1,639.35 points; and the BlueTech Global Index fell 0.48% to 613.18 points. The TelBond 20 corporate bond index fell 0.20% to 371.23 points. Turnover totaled NIS 2.29 billion in equities and NIS 5.39 billion in bonds. On the foreign exchange market, the Bank of Israel set the representative shekel-dollar rate 0.122% lower from Tuesday, at NIS 3.264/$, and the representative shekel-euro rate was set 0.343% lower, at NIS 3.954/€. On the market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 2.69% and NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) fell 2.04%. LivePerson Inc. (Nasdaq: LPSN); TASE: LPSN) fell 4.36% for the biggest fall on the Tel Aviv 35 Index. Energix Renewable Energies Ltd. (ENRG) fell 4.15% and Ener ....
Clal Insurance and Phoenix eye Psagot s insurance units While Altshuler Shaham is holding talks with Apax to buy Psagot s core activities, separate talks are being held to sell the investment house s insurance agencies. While Altshuler Shaham Ltd. investment house is in exclusive talks with Apax Partners to buy the core activities of Psagot Investment House Ltd., sources close to the matter have told Globes that separate talks are being conducted for Psagot s insurance holdings. RELATED ARTICLES These holdings include Davidoff, Haiman and Profit with Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) and The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) both reportedly interested in the agencies. Apax, managed in Israel by Zehavit Cohen, declined to comment on the matter. ....
FIMI looking full of health Israel s leading private equity firm has been very active in the healthcare sector lately, but not just there. In recent months, private equity firm FIMI Opportunity Funds seems to have been investing in everything, including in the Israeli healthcare market. It has acquired control of a pharmaceutical company valued at over NIS 600 million; brought partners into a medical device company that it controls, at a valuation of $140 million; lead the acquisition of a diagnostics company valued at NIS 24 million; and sold shares in another pharmaceutical company for a similar amount. FIMI s investments in this field are nothing new: as early as 2013, the fund, led by Ishay Davidi, invested in medical logistics company Novolog, later selling it a 3.5-fold return on investment. In the more distant past, it also held medical equipment company Medtechnica. FIMI also invested in Rekah Pharmaceutical Industries several years ago, and so far has benefitt ....
Phoenix unit Gamma eyes NIS 300m IPO Gamma Management and Clearing provides credit card clearance, loans and other financial services to some 8,000 businesses. Sources inform Globes that Gamma Management and Clearing, a unit of The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5), is acting to raise NIS 300 million in an IPO, at a company valuation of NIS 700 million before money. The offering may include an offer for sale by the company s shareholders, principally The Phoenix Holdings, which holds 49%. The Phoenix Holdings acquired its shares in Gamma in 2008 for just NIS 64 million (at a valuation of NIS 130 million). An offering at a valuation five times higher will give a handsome return on the investment. ....