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US Hedge Fund Plans Major Investment in Bank HaPoalim
Reported: 11:07 AM - Mar/27/08
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(IsraelNN.com) The American hedge fund York Capital is seeking a four-percent stake in a leading Israeli bank, Bank HaPoalim. The deal is worth 735 million shekels ($210 million) and will require an allocation of 52.5 million additional shares and 7.5 million options.
Bank Hapoalim issued a statement on the proposed allocation to the Tel Aviv Stock Exchange on Wednesday. For the York investment and stock allocation to be finalized, TASE officials must authorize the proposed issuance.
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