Mediterranean Towers partners with Clal Insurance to set up assisted living facilities in Israel
Categories: Corporate and M&A
Clal Insurance Group, one of the leading insurance and long term savings companies in Israel, has set up a joint venture with Mediterranean Towers for the establishment, operation and management of assisted living facilities in Israel through the formation of special purpose limited partnerships.
The total investment in the joint venture will be NIS500 million, with members of the Clal Insurance Group investing approx. NIS300 million, and Mediterranean Towers investing approx. NIS200 million.
FBC & Co. represented members of the Clal Insurance Group in the JV, with Corporate Practice head Avraham Well and partner Sarit Perlmutter-Sugarman leading the transaction.
