Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Giza Singer Even seeks investors to buy Dexia Israel

Dexia Israel, controlled by Franco-Belgian Dexia Group, specializes in municipal credit.
230px-Dexia_logo
/ By Irit Avissar and Efrat Peretz /Sources inform ”Globes” that financial consultancy firm Giza Singer Even Ltd. is trying to organize an investors group to acquire control of Dexia Israel (Public Finance) Ltd. (TASE:DXIL) from Dexia NV/SA (Euronext: DEXB), controlled by the French and Belgian governments. Giza Singer Even is trying to interest investors to acquire Dexia Israel as a group or separately, and it is simultaneously in preliminary talks with a group for this purpose to examine ways to acquire the company, which has a complicated ownership structure with five kinds of shares.

 Dexia NV/SA, which owns 66% of the voting rights in Dexia Israel, has said in the past that it wants to sell the bank, which specializes in credit to municipalities. The media has reported talks with Israel Discount Bank (TASE:DSCT),  Mizrahi Tefahot Bank (TASE:MZTF), and Bank of Jerusalem (TASE: JBNK), but nothing ever came of them. Now Giza Singer Even is trying to arrange a deal.

Dexia Israel has NIS 770 million in equity and a market cap of NIS 510 million (a capital multiple of 0.66). It has a very high capital adequacy ratio of 20.6% (compared with an average of 9% for Israel’s other banks), but an acquisition involves first completing a number of steps.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Published by Globes [online], Israel business news – www.globes-online.com – on March 17, 2014

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.