Clal Insurance

Ramat Gan published a tender to operate a 300-space underground public parking lot at the 1.12 billion NIS Vertical City project in the Diamond Exchange district.

At 85, Israeli tycoon Alfred Akirov is considering taking Alrov private due to low stock liquidity, a move that could also help him bypass regulations to gain control of Clal Insurance.

Alfred Akirov is advancing his plan to delist Alrov Properties from the Tel Aviv Stock Exchange through a tender offer worth up to 788.4 million shekels. The move aims to bypass regulatory hurdles and bring him closer to controlling Clal Insurance.

Ofer Yanai has launched the final phase to delist Ellomay from the stock exchange, approaching Clal Insurance to purchase its 10.8% stake as Nofar Energy moves to consolidate control.

Alfred Akirov announced a NIS 788 million buyout offer to delist Alrov Real Estate from the stock exchange, offering a 21.6% premium to acquire full control.

Five insurance companies in Israel will pay 310.7 million NIS to settle a 13-year class-action lawsuit over interest calculations on delayed policy payouts.

Clal Insurance is in talks to invest 150 million shekels for a 20% stake in investment banking firm Value Base at a 600 million shekel pre-money valuation.

The Beersheba Labor Court ordered Clal Insurance to pay 50,000 NIS to a blind applicant rejected for a call center job. The court ruled the company failed to properly evaluate his accessibility needs.

Menora Mivtachim led Israel's investment-linked savings market in August with a 1.38% return in the general track. However, Clal Insurance maintains its long-term dominance, leading year-to-date with an 8% return.

The Israeli financial giant is entering into a strategic partnership to acquire hundreds of income-generating solar projects abroad, most of which are already connected to the power grid and secured by long-term hedging mechanisms.

The quarterly profit of Alfred Akirov's real estate and hotel company has dropped sharply, but this is not due to core operations. The primary driver of profit and volatility for the company has been the fluctuations in the value of its holdings in Clal Insurance and Bank Leumi.

Clal concludes the first half of the year with a profit of 1.05 billion shekels, similar to last year. The volume of assets under management rose to a record of 456 billion shekels. The company will distribute a dividend of 200 million shekels.

BLenergy, the energy division of the Blilius family, has secured Clal Insurance as a strategic partner. The 250 million shekel investment will focus on expanding energy storage projects across Europe.

Clal Insurance has increased its stake in the Highway 6 northern section franchise to 24% after acquiring an 8% share from the Noy 2 fund for 165 million shekels. The company expects an annual return of 9% to 11%.