Altshuler and Shaham consider selling control of their investment house

Gilad Altshuler and Kalman Shaham, the controlling shareholders of Altshuler Shaham Finance, are considering selling their controlling stake (55.4%) in the investment house, following inquiries received from various parties. The company manages 112 billion shekels and is traded at a value of 1.4 billion shekels. A potential deal could reach a consideration of one billion shekels. Altshuler has reduced his involvement in day-to-day management in preparation for the move, and his partners are expected to join.

Gilad Altshuler and Kalman Shaham, the controlling shareholders of the publicly traded Altshuler Shaham Finance, are considering selling their controlling stake (55.4% of shares). This consideration follows inquiries they have received from various parties to purchase control of the investment house. The company manages 112 billion shekels and is traded at a value of 1.4 billion shekels. A potential deal could reach a consideration of one billion shekels, as the current share value stands at 785 million shekels. Altshuler has reduced his involvement in day-to-day management and relinquished many authorities in preparation for the move. His partners are expected to join the sale, but the company's CEO, Yair Lewinstein, who holds 14.8%, may not sell his holdings due to his relatively young age. Negotiations with an interested party are in early stages. This was preceded by a merger initiative between the public and private operations that did not materialize. Altshuler Shaham was founded in 1990, led the provident fund market until 2022, but has since lost 140.3 billion shekels and dropped to third place. In recent months, it has returned to showing good returns.