IFLR1000

Menora Mivtachim Insurance NIS770 milion acquisition of Mizrahi Tefahot Bank mortgage portfolio

1/12/2015
Loan portfolio sale
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Af 770 million

$ 207.074 million

Completed

1/12/2015

Overview:

  • Menora Mivtachim Insurance has acquired a portfolio of mortgages from Mizrahi Tefahot Bank.
  • The portfolio is valued at NIS770 million and is made up of loans extended in 2013. 
  • Mizrahi Tefahot will keep the rights to 20% of the rights and commitment of the portfolio.
  • The deal is the first mortgage portfolio sale to take place in Israel.

Sam Duke - Editor

Jurisdiction:

Israel

Deal type:

Loan portfolio sale

Practice areas:

Banking
M&A

Industry sector:

Banking

Firm:
Meitar | Law Offices

Party: Menora Mivtachim Insurance (Acquirer)

Lawyer: Judith Gal-Or

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