Clal Insurance to Invest $33 Million in Investment Bank Value Base

Clal Insurance is nearing a deal to invest approximately 120 million shekels (about $33 million) for an 18% to 20% stake in Value Base, a firm specializing in investment banking, fund management, and underwriting. The proposed transaction values Value Base at 600 million shekels before the investment, according to Clal's filing with the stock exchange.

Value Base was founded by Victor Shamrich and Ido Neuberger, who remain its principal shareholders. Other notable investors include Natan Hetch and Avi Wertheim. Shamrich and Neuberger established Value Base after selling their previous investment house, Dash Apex, to Meitav, transitioning from managers to owners of a leading investment banking entity.

In the past year, Value Base played a key role in facilitating the exit from Dan Transportation, which was sold for 2.8 billion shekels to a group of institutional investors. Clal Insurance currently lacks an investment banking arm, having previously sold Clal Finance. This investment in Value Base may signal an intention to re-establish such operations.

The investment will be made through Clal Holdings, the parent company of Clal Insurance.