Clal Insurance Enterprises Holdings (TASE: CLIS) seeks to return to underwriting, investment banking, and activity on the capital market. Two years after reporting that it would invest in privately-held investment house Value Base, Clal Insurance is restarting the move and reports that it is examining investment in the company in return for 18-20% of its shares at a pre-money valuation of NIS 600 million. In other words, Clal Insurance will invest NIS 130-150 million.
If it takes place, the deal will follow another recent major deal in financial services whereby Altshuler Shaham Finance was sold to insurance company WeSure.
Clal Insurance’s notification to the Tel Aviv Stock Exchange states that the deal is at the initial stages and full agreement has yet to be reached. It says that investment in Value Base will be to support its continued growth.
Value Base was founded in 2013. It is controlled by its founders Ido Nueberger and Victor Shamrich, with the remaining shares held by Nathan Hetz (founder and CEO of real estate company Alony Hetz Properties and Investments), David Wertheim (owner of Coca-Cola Israel, and controlling shareholder in Bank Mizrahi Tefahot and in broadcaster Keshet Media Group), and investment house Meitav, controlled by the Stepak family and Eli Barkat.
Value Base in active in investment in both private and public companies, and provides services such as management of equity and debt offerings, share sales, mergers and acquisitions. It also represents international investment institutions in Israel.
In the past year, Value Base sold its stake in public transport company Dan at a valuation of NIS 2.8 billion for the company. It advised Magic Software Enterprises in its merger with Matrix, represented Isracard in its sale to Delek Group, and provided underwriting services in the flotations of Sugat, Michpal Technologies, and Rapac Energy.
Published by Globes, Israel business news - en.globes.co.il - on September 23, 2026.
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