Hamburger Evron & Co.

  • 03.04.2017, Union Bank Sells Fishmen's Ten Shares to Apax for NIS 16.8 million, Globes

In total, the Bank sold 9% of Ten's shares that were pledged in favor of Fishman's debts to the Bank - The sale was led by Adv. Assaf Englard of Hamburger Evron

Union Bank, which held 9% of Ten's shares that were pledged in its favor by Eliezer Fishman, enforced the pledge and sold its holdings to the Apax fund.

In total, the Bank received NIS 16.8 million for the Ten shares, according to a company valuation of NIS 186.8 million, a price higher than the price at which Bank Hapoalim sold its holdings in the company (83%) to Apax two months ago, which holdings were also forfeited by the bank after Fishman's collapse. Bank Hapoalim sold its holdings to Apax according to a company valuation of NIS 166 million.

The sale for Union Bank was led by Adv. Assaf Englard of Hamburger Evron, who was appointed as Receiver on behalf of the Bank.