Psagot Equity, Carmel Credit, and Sigma-Clarity buy Psagot Securities
A group of purchasers, including Psagot Equity, Carmel Credit, and Sigma-Clarity, signed a definitive agreement to acquire 100% of the shares of Tel Aviv Stock Exchange member Psagot Securities and the “Psagot” brand from Psagot Group for Finance and Investments Ltd., which is publicly traded on the TASE.
The deal signifies a major milestone in Psagot’s history, dating back to its founding by Bank Leumi over 60 years ago.
Sigma Clarity, Israel’s first international investment house, manages over NIS 12 billion in diverse areas like mutual funds and wealth management.
Carmel Credit provides real estate financing in Israel and London, in partnership with Bank Mizrahi, managing a NIS 500 million portfolio. Owners include the Hadar family (30%) and others.
Firon advised Psagot Securities.
Herzog advised the group of buyers on the transaction, which features a unique structure, with one buyer currently serving in the target company’s management, highlighting potential synergies among the purchasers.
Partners Niv Sivan and Ohad Graub, along with associates Ofek Galipoliti and Chen Zohar, shepherded the client throughout.
