Altshuler Shaham Explores $270 Million Sale of Control Stake
Altshuler Shaham, one of Israel's largest pension and provident fund managers, is reportedly considering a significant exit, with its founders, Gilad Altshuler and Kalman Shaham, exploring the sale of their controlling stake in the public company, Altshuler Shaham Finances.
The move, if it proceeds, could reshape the local financial industry. The firm, currently chaired by Ran Shaham, manages approximately NIS 112 billion ($30 billion) in assets and has a market capitalization of about NIS 1.4 billion ($380 million).
According to a report in "Calcalist," the exploration follows active inquiries from potential buyers. The founders, through their private parent company, hold a 55.4% controlling interest, with provident fund CEO Yair Levinstein also owning a substantial 14.8% stake.
Industry estimates suggest the controlling stake could be valued at around NIS 1 billion ($270 million), likely with a significant premium. A new owner, unburdened by current restrictions, could expand Altshuler Shaham's powerful platform into new areas like mutual fund management, hedge funds, or stock exchange services, which are currently limited due to potential conflicts of interest with the private entity.
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