Michael Dell fund sells Rami Levy shares

Rami Levy Photo: Eyal Yitzhar

MSD Capital, the family office of US technology billionaire Michael Dell, sold a 2% stake in the Israeli supermarket chain, leaving it with just over 5%.

After a 12 % rise in the share price of Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI) in the past year, giving the supermarket chain a market cap of NIS 2.8 billion, MSD Capital, the $16 billion family office of US technology entrepreneur Michael Dell, sold shares amounting to nearly 2% of the chain, for NIS 46 million. A notice to the stock exchange from Rami Levy Chain Stores at the end of last week states that MSD sold 225,000 shares at NIS 205 per share, which is similar to the current market price.

The sale leaves MSD with a stake of a little over 5% in Rami Levy Chain Stores (which means that it remains a party at interest) worth some NIS 150 million. The sale was carried out in the name of JNE Master Fund, the current name of MSD European Opportunity Master Fund, which held the shares in Rami Levy.

Published by Globes, Israel business news - en.globes.co.il - on January 13, 2020

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

Rami Levy Photo: Eyal Yitzhar
Rami Levy Photo: Eyal Yitzhar
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