Brief
Israeli Banks Approve Deadline Extension on Tel Aviv Stock Exchange Sale Deal
Last week, Israeli regulator Anat Guetta informed Tel Aviv Stock Exchange CEO Ittai Ben-Zeev she requires more time before she can approve the sale of the exchange to Australian firm Manikay
10:5418.06.18
Israeli banks selling their stakes in the Tel Aviv Stock Exchange as part of the imminent Manikay Partners LLC acquisition deal have approved a deadline extension for the deal. Last week, Israeli regulator Anat Guetta informed TASE CEO Ittai Ben-Zeev that she requires more time before she can approve the sale of the exchange to the Australian firm and additional buyers.
TASE CEO Ittai Ben-Zeev. Photo: Bloomberg
In April, the Tel Aviv Stock Exchange board of directors approved the sale of a 71.7% stake in the exchange to Manikay—which is set to acquire a 20% stake—and a group of five international investors set to acquire 51.8%. Of the stake acquired by the unnamed investors, 30% will be eventually offered in direct placement to the public.
In a letter last week, Ms. Guetta said she will examine and individually approve each of the additional buyers involved in the deal before it is put forward. In response, Mr. Ben-Zeev has filed for an extension on the deal from participating banks and investment firms through the end of August.
TASE CEO Ittai Ben-Zeev. Photo: Bloomberg
