Mivtach Shamir investing in Canadian real estate

Meir Shamir  credit: Eyal Izhar

Mivtach Shamir plans to invest NIS 70 million in a real estate venture in cooperation with Canadian firm Kin Capital Partners.

Holding company Mivtach Shamir (TASE: MISH), controlled by Meir Shamir, is expanding its global real estate activity, and plans a NIS 70 million investment in Canada. The company reported today that it had invested NIS 7.5 million in Mivtach Kin Holdings, representing an initial payment on account for three real estate projects on which it is expected to sign shortly.

Mivtach Kin is a new subsidiary of Mivtach Shamir set up for the purposes of this investment. Mivtach Shamir holds 70% of the shares, with the remainder held by Canadian investment company Kin Capital Partners. As mentioned, Mivtach Shamir's equity investment in Mivtach Kin will be NIS 70 million.

Mivtach Kin will focus on investment in residential real estate in Toronto.

Guy Shamir, deputy CEO of Mivtach Shamir and CEO of Mivtach Shamir Technologies, said, "Mivtach Shamir believes in the Canadian real estate market and sees in it an opportunity to expand its real estate activity in Israel and overseas as part of a strategy of expanding in this area, in a long-term collaboration with Kin Capital Partners."

Mivtach Shamir has a market cap of NIS 1 billion. Its stock has given a dividend-adjusted return of 74% over the past three years. It has four areas of business: real estate; energy; finance; and technology. Most of its business activity is in Israel, and only a small fraction of its investments is outside of Israel, in the US and India among other places.

Published by Globes, Israel business news - en.globes.co.il - on May 2, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

Meir Shamir  credit: Eyal Izhar
Meir Shamir credit: Eyal Izhar
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