Migdal Becomes Significant Stakeholder in Shufersal After Acquiring Shares
Translated & summarized from Ice by baba
Migdal Insurance and Financial Holdings has become a significant stakeholder in Shufersal Group after purchasing shares worth approximately NIS 36.2 million, bringing its total holding to 5.14%. In parallel, Shufersal announced a NIS 460 million mixed-use development project in Jerusalem's Talpiot neighborhood, a collaboration with Tidhar Group and LARO Real Estate. Shufersal's Co-CEO highlighted the project's synergy with the company's retail and real estate activities.
The story in 5 lines · by baba
- Migdal Insurance acquired 1,109,345 Shufersal shares for NIS 36.2 million, becoming a significant stakeholder.
- Migdal's holding in Shufersal now stands at 5.14% of stock and voting rights.
- Shufersal is partnering with Tidhar Group for a NIS 460 million mixed-use project in Jerusalem.
- The Jerusalem project will include residential, rental housing, commercial, and employment spaces.
- Shufersal's Co-CEO sees the project as a synergy between retail and real estate operations.
Migdal Insurance and Financial Holdings, a leading Israeli institutional investor, has become a significant stakeholder in the Shufersal Group after acquiring 1,109,345 shares for approximately NIS 36.2 million. The purchase, which took place on Thursday, November 5, 2026, at an average price of NIS 32.63 per share, increased Migdal's total holding to 13,714,100 shares, representing 5.14% of Shufersal's stock and voting rights. This move crosses the 5% threshold, officially designating Migdal as a significant interest holder.
In separate news, Shufersal announced a new collaboration with Tidhar Group and LARO Real Estate, part of Shufersal Group. They are advancing a joint project in Jerusalem's Talpiot neighborhood, a mixed-use development including residential units, rental housing, commercial, and employment spaces. The project is based on a combination deal for land owned by Shufersal, with Tidhar Group set to construct the development in exchange for rights to parts of the property and built areas. The estimated investment for this project is around NIS 460 million.
Shlomi Amir, Co-CEO of Shufersal Group, stated that the Talpiot project exemplifies the synergy between Shufersal's retail and real estate operations. He added that LARO Real Estate is working to realize the potential of the group's assets and create additional growth engines. Amir believes the partnership with Tidhar Group will lead to a high-quality complex tailored to community needs and the evolving urban environment, potentially serving as a foundation for future collaborations.