Clal Insurance to Invest $40 Million in Investment Bank Value Base
Clal Insurance is nearing a deal to invest approximately NIS 150 million (around $40 million) for an 18-20% stake in Value Base, a company specializing in investment banking, fund management, and underwriting. The potential transaction values Value Base at NIS 600 million before the investment, according to Clal's report to the stock exchange.
Value Base was founded by Victor Shamrich and Ido Neuberger, who are its primary shareholders. Other investors include Natan Hach and Avi Wertheim. Shamrich and Neuberger established Value Base after selling their previous firm, 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 the exit of Dan Transportation, which was sold for NIS 2.8 billion to a group of institutional investors. Clal Insurance currently lacks an investment house 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.
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