Leumi selling Jewish Colonial Trust stake

Rakefet Russak-Aminoach
Rakefet Russak-Aminoach

Bank Leumi's stake in the Jewish Colonial Trust is worth some NIS 55 million.

Bank Leumi (TASE: LUMI) is selling off its holding in Jewish Colonial Trust Ltd. (JCT). "Globes" has learned that the bank, which owns 8% of JCT, started to sell its holding this morning.

Leumi's stake in JCT is worth some NIS 55 million. JCT is controlled by YKT Trust and Histadrut ha-Ovedim ha-Leumit. Its main asset is a 5% stake in Bank Leumi itself.

The sell-off is part of a series of sales from the bank's nostro portfolio. It recently sold shares in Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR).

Published by Globes [online], Israel business news - www.globes-online.com - on August 26, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

Rakefet Russak-Aminoach
Rakefet Russak-Aminoach
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