Clal Insurance Explores Investment in Veteran Investment Bank Value Base
Clal Insurance is reportedly looking to re-enter the underwriting market by considering a significant investment in the investment bank Value Base. This move comes two years after Clal Insurance initially announced its intention to invest in the firm. The insurance giant is evaluating an investment that would secure it between 18% and 20% of Value Base's shares, valuing the company at 600 million shekels before capital injection. This implies Clal Insurance would invest approximately 130 to 150 million shekels.
Value Base, established in 2013, is currently co-owned by several prominent figures and entities. Its shareholders include Ido Neuberger, Victor Shimrich, Natan Hach (Aloni Hach), Dudi Wertheim (associated with Coca-Cola, Keshet, and Mizrahi Tefahot Bank), and the investment house Meitav, controlled by the Steinfels and Barakat families.