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Fidelity Increases Stake in Israel's Phoenix Insurance After Kushner's Partial Sale

How 4 Israeli newsrooms covered this story — translated into English and compared side by side.

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First reported by Calcalist · 1 day ago

What happened

Jared Kushner's Affinity Partners sold 2.5% of its shares in Israel's Phoenix Finance for 1.05 billion shekels, with Fidelity Investments increasing its stake. Affinity retains 7.4% of Phoenix, which is Israel's largest insurance company by market cap. The sale yielded Affinity a 4.5-fold profit and expands Phoenix's foreign investor base.

01Jared Kushner's Affinity Partners sold 2.5% of Phoenix Finance shares for 1.05 billion shekels.
02Fidelity Investments bought the largest portion of the shares, increasing its stake in Phoenix.
03Affinity retains 7.4% of Phoenix shares valued at 3.3 billion shekels after the sale.
04The shares sold at a 4% discount, with Phoenix's stock closing down 2% on the day.
05Affinity's investment returned over five times its value in under two years, including dividends.
06Phoenix's market cap rose over 860% since new leadership took over in 2019, now at about 44 billion shekels.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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