Eyal Ofer's company L.A.B.M. Holdings has hold some of its stake in Mizrahi Tefahot Bank (TASE:MZTF). The stake that has been sold represents 2.2% of the bank's shares.
Even after the sale for NIS 196 million, Ofer's company continues to hold shares in the controlling core of the bank. In addition, L.Y.N. Holdings Ltd. , another company connected to Ofer also holds a stake in the bank including controlling core shares, through Ofer Investments.
a company statement said, "Eyal Ofer continues, without any change, to be a partner in the control of Mizrahi Tefahot as part of Ofer Investments together with the Wertheim family. Eyal has repeated his full confidence in the bank and its management and stresses his desire to continue investing in various ventures in Israel."
The sale of the shares has been implemented, according to the company, as part of an organizational change in Eyal Ofer Group.
Published by Globes [online], Israel business news - www.globes-online.com - on March 20, 2013
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