5% of Bank Leumi Sold For $368 Million

Bank-LeumiYesterday, Israel sold 5 percent of Bank Leumi Shares to a UBS, a swiss bank. Since the sale, Bank Leumi has no controlling shareholder. The government’s sellout could enable other investors to buy a controlling position. Currently, the biggest shareholder in Leumi is Shlomo Eliahu with 9.59 percent. Eliahu said that he plans to form a group in order to control Leumi.

UBS sold the bank’s to its clients. Foreign funds showed tremendous interest and foreign investors bought approximately 80 percent of the Leuimi Shares.