Although the Ofer family's efforts to sell off their holdings in Bank Mizrahi Tefahot have so far failed, associates report that Idan and Ofer nevertheless remain "very interested in acquiring Bank Leumi" without partners. The Ofer family, which has already gained authorization to acquire control of the bank, has a good chance of receiving the Bank of Israel's approval of the transaction once they have divested of their shares in Mizrahi Tefahot.
The Ofers were recently reported to be negotiating for sale of their shares in the bank, which it controls in partnership with Moshe Wertheim. Discussions are being held with David Azrieli, but no agreement has yet been reached, and sources say that it's all up in the air.
The Ofer family is asking $800 million for their holdings in the bank. The shares are held through Ofer Brothers Properties Ltd., owned by Yuli Ofer (67 percent) and Sami Ofer (33 percent). The brothers have split up their jointly held assets in Israel over recent years, excepting Ofer Brothers Properties, whose two main assets include a 20 percent holding in Bank Mizrahi Tefahot and a 72 percent holding in Melisron real estate company valued at about a billion shekels, and additional real estate of similar value.
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