News Briefs

  אדר ב 20, 5768 , 27/03/08

US Hedge Fund Plans Major Investment in Bank HaPoalim

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.

Other archived news briefs:Mar 27 2008, 11:07 AM, 3/27/2008