JERUSALEM Dec 14 Israeli investment house
Halman-Aldubi said on Wednesday it signed a deal to carry out a
reverse merger and become a public company on the Tel Aviv Stock
Halman-Aldubi, which manages about t 14 billion shekels
($3.7 billion) in assets, will merge with a small firm called
Soho Real Estate and will be traded under the name Halman-Aldubi
The investment house's chief executive told Reuters in
September they were planning to make the transaction by the end
of the year.
Halman-Aldubi's shareholders will retain a 71 percent stake
in the new company and the remaining 29 percent will be held by
the public, according to a statement.
Soho Real Estate has a market value of 39.5 million shekels.
The deal is subject to regulatory approval.
($1 = 3.8008 shekels)
(Reporting by Ari Rabinovitch)