Migdal Acquires 14% Stake in Israeli Real Estate Firm Guy and Doron Levi for NIS 325 Million

Migdal Insurance continues its expansion in the real estate sector by purchasing a 14% stake in the private real estate company Guy and Doron Levi for NIS 325 million. This acquisition values the company at approximately NIS 2.325 billion post-money. The deal also includes stock options for Migdal, representing about 4% of the company's issued and paid-up capital. Guy and Doron Levi, owned by brothers Doron and Guy Levi, specializes in residential and income-generating real estate projects and plans to go public on the Tel Aviv Stock Exchange. Founded around 30 years ago, the company has developed roughly 10,000 housing units across Tel Aviv, central Israel, the north, and the Shfela region, through government tenders and urban renewal projects.

This purchase follows another recent deal where Migdal agreed to acquire a 20% stake in Ashtrom Residential for Rent for an estimated NIS 451 million, valuing that rental housing activity at a net asset value of NIS 2.26 billion. These transactions underscore Migdal's strategic focus on expanding its real estate portfolio in Israel. The article also notes the company's commitment to ethical standards in its communications and reporting.