Liora Ofer Denies Plans to Sell Stake in Mizrahi Bank

Under new anti-concentration laws Ofer Investments must offload either bank or real-estate giant Melisron

Send in e-mailSend in e-mail
Ofer Investments chairwoman Liora Ofer will have to offload either Mizrahi Tefahot Bank or real-estate giant Melisron under the new anti-economic concentration law.
Ofer Investments chairwoman Liora Ofer will have to offload either Mizrahi Tefahot Bank or real-estate giant Melisron under the new anti-economic concentration law.Credit: Vardi Kahana

Liora Ofer, the chairwoman of Ofer Investments, has made a decision in principle to sell the company’s interest in the controlling shareholder group of Mizrahi Tefahot Bank, TheMarker has learned. Ofer, however, denies any such plan.

According to information received by the TheMarker, Ofer made the decision to divest of Ofer Investments’ interest in the bank, but to retain its holdings in Melisron, a major shopping mall and commercial real-estate company where she serves as chairman of the board. For her part, however, after a report regarding her plans appeared in TheMarker in Hebrew on Monday, Ofer issued the following statement: “I am not selling Mizrahi Bank, period. The bank is one of the finest assets of Ofer Investments. I suggest that everyone not engage in baseless speculation of one kind or another.”

Ofer added that she had not been asked for her reaction prior to the appearance of the initial report on the matter.

According to the information obtained by TheMarker, however, Ofer is interested in selling the interest in the bank as a result of the new law curbing concentration of corporate economic interests, which would require the Ofer group to either give up its controlling stake in the bank or sell some of Melisron’s assets. If the Ofer family proceeds with the move to divest, it might retain a small quantity of Mizrahi shares outside of the investor group that controls the bank. The controlling shareholder group in the bank also includes the Wertheim family with a 22.4 % share.

Under the new government rules aimed at reducing the concentration of economic power, conglomerates will no longer be able to hold both significant financial and non-financial assets. Therefore, Ofer is expected to have to choose between Mizrahi and Melisron in the coming years.

With reporting from Reuters.

Click the alert icon to follow topics:



Automatic approval of subscriber comments.
From $1 for the first month

Already signed up? LOG IN


Charles Lindbergh addressing an America First Committee rally on October 3, 1941.

Ken Burns’ Brilliant ‘The U.S. and the Holocaust’ Has Only One Problem

The projected rise in sea level on a beach in Haifa over the next 30 years.

Facing Rapid Rise in Sea Levels, Israel Could Lose Large Parts of Its Coastline by 2050

Tal Dilian.

As Israel Reins in Its Cyberarms Industry, an Ex-intel Officer Is Building a New Empire

Queen Elizabeth II, King Charles III and a British synagogue.

How the Queen’s Death Changes British Jewry’s Most Distinctive Prayer

Newly appointed Israeli ambassador to Chile, Gil Artzyeli, poses for a group picture alongside Rabbi Yonatan Szewkis, Chilean deputy Helia Molina and Gerardo Gorodischer, during a religious ceremony in a synagogue in Vina del Mar, Chile last week.

Chile Community Leaders 'Horrified' by Treatment of Israeli Envoy

Queen Elizabeth attends a ceremony at Windsor Castle, in June 2021.

Over 120 Countries, but Never Israel: Queen Elizabeth II's Unofficial Boycott