Shmuel Frenkel and Ron Levkovich founded Epsilon Investment House 22 years ago.
Epsilon Investment House Ltd. founding partners Shmuel Frenkel and Ron Levkovich are ending their partnership. Sources inform ''Globes'' that Levkovich is in advanced talks to sell his 18.75% in the company to Koor Industries Ltd. (TASE:KOR), which already owns 50% of the firm.
If a deal is reached, Koor, a unit of Nochi Dankner-controlled IDB Holding Corp. Ltd. (TASE:IDBH), will own 68.75% of Epsilon, and chairman and CEO Frenkel will own the other 31.25%. The sources said that he will not sell his stake.
Frenkel and Levkovich founded Epsilon 22 years ago. The investment house currently has NIS 7 billion under management in mutual and provident funds and in investment portfolios.
Published by Globes [online], Israel business news - www.globes-online.com - on March 21, 2010
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