The Delek Real Estate group board of directors yesterday approved the sale of 7.5% of the group to the Mivtahim pension fund for $8.1 million. Mivtahim will also buy $11.9 million worth of Delek Real Estate convertible bonds.
Mivtahim said that its authorized bodies had approved the deal. The parties signed an MOU, the validity of which depends on the final contract being signed by September 15.
Published by Israel's Business Arena on July 19, 2000