Harel is buying the stake in the Israeli real estate and construction group for NIS 390 million.
Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) signed an agreement this morning to buy a 10% stake in real estate and construction company Tidhar Group for NIS 390 million, reflecting a company valuation of NIS 3.9 billion for Tidhar, after money. Uri Levin became CEO of Tidhar Group three months ago after stepping down as Israel Discount Bank (TASE: DSCT) CEO.
The deal deepens the cooperation between Tidhar and Harel, controlled by the Hamburger family. The cooperation between the companies began in 2020, when they established a joint venture for building and managing 1 million square meters of incoming producing real estate.
Published by Globes, Israel business news - en.globes.co.il - on August 1, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
Uri Levin Credit: PR