Economy · Full coverage
Menora Mivtachim Buys Back 4.98% Stake in Its Pension Fund from Allied for NIS 249 Million
How 2 Israeli newsrooms covered this story — translated into English and compared side by side.
Unrated 2
First reported by Globes · 21 minutes ago
What happened
Menora Mivtachim repurchased nearly 5% of its pension and provident fund from Allied for NIS 249 million, reducing Allied's stake to just over 5%. The pension fund is Israel's largest, managing NIS 331 billion in assets, and Allied had initially invested NIS 279 million since 2021. The move reflects ongoing shifts in ownership of Menora Mivtachim's pension business.
- 01Menora Mivtachim buys back 4.98% stake in its pension fund from Allied for NIS 249 million.
- 02Allied's ownership in the pension fund decreases from 10% to 5.02% after the sale.
- 03Allied initially invested NIS 279 million in the pension and provident fund since 2021.
- 04Menora Mivtachim's pension fund manages NIS 331 billion, the largest in Israel.
- 05Allied's main holding is Champion Motors, Israel's third-largest car importer.
- 06Il Ayala was appointed CEO of Menora Mivtachim's pension and provident fund in April.
Summary translated & synthesized from the sources below by baba. Read each original for the full report.
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