Investment house Halman-Aldubi receives second bid

Uri Aldubi, chairman of Halman-Aldubi Group and Yair Levinstein, Altshuler Shaham / Photo: Eyal Izhar and Guy Assayag

A "foreign investment body" is competing with Altshuler Shaham Provident and Pension Funds to take over the company.

Investment house Halman-Aldubi (TASE: HAIN) has received a takeover offer from another bidder besides Altshuler Shaham Provident and Pension Funds Ltd. (TASE: ASPF).

Halman-Aldubi announced yesterday evening that its board of directors had appointed an independent committee made up of external and independent members of the board and authorized it to examine the takeover offers that had been received and to formulate recommendations on whether to proceed with negotiations on the basis of either of the offers, to conduct negotiations on the price to be paid for the public's holdings and on deal terms, at its discretion." This follows calls from minority shareholders in the investment house Eran Meital and Hanan Assayag to accept the offer from Altshuler Shaham Provident and Pension Funds.

Halman-Aldubi reported that it had received an offer from "a foreign investment body" to buy between 51% and 100% of its shares, at a valuation of NIS 230-304 million.

The other bid that the independent board committee will examine is that of Altshuler Shaham Provident and Pension Funds, which offered to buy 100% of the shares in Halman-Aldubi at a company valuation of NIS 230 million.

Published by Globes, Israel business news - en.globes.co.il - on July 28, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Uri Aldubi, chairman of Halman-Aldubi Group and Yair Levinstein, Altshuler Shaham / Photo: Eyal Izhar and Guy Assayag
Uri Aldubi, chairman of Halman-Aldubi Group and Yair Levinstein, Altshuler Shaham / Photo: Eyal Izhar and Guy Assayag
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