Altshuler Shaham Finance Controlling Stake Deal Advances at 1.8B NIS Valuation
Altshuler Shaham Finance founders are advancing a 1 billion NIS deal to sell their controlling stake at a 1.8 billion NIS valuation, with CEO Yair Levinstein joining as a minority partner.
The deal to sell controlling shares in the public company Altshuler Shaham Finance is advancing rapidly, valued at 1 billion NIS for a 55.1% stake, based on a company valuation of 1.8 billion NIS. Founders Gilad Altshuler and Kalman Shaham are negotiating with a local buyer, while CEO Yair Levinstein will join as a minority partner, increasing his current 14.8% holding. The transaction is expected to be finalized this week before Yom Kippur.
Business Context and Market Valuation
Altshuler Shaham manages 112 billion NIS in assets and currently trades at a market cap of 1.4 billion NIS. Ran Shaham serves as chairman of the company. Following the initial report, the company's stock jumped 15% before correcting downwards by 8%. A new controlling owner will be able to introduce financial activities previously restricted due to conflicts of interest with the private company, such as hedge funds and mutual funds.
Focus on Private Operations
Should the sale proceed, Altshuler and Shaham intend to focus on their private company, which manages approximately 20 billion NIS in mutual funds, investment portfolios, and digital assets. Founded in 1990, Altshuler Shaham was the leading pension and provident fund house from 2018 to 2022, though it later experienced substantial client outflows before recently returning to top pension yield rankings.
