January 8, 2018 / 1:55 PM / a year ago

Israel's Ofer Investments weighs selling control of Melisron

JERUSALEM, Jan 8 (Reuters) - Israel’s Ofer Investments is considering selling its majority stake in real estate and construction company Melisron in order to abide by regulation aimed at increasing market competition, Melisron said on Monday.

No decision has been made yet by Ofer Investments, which owns 61 percent of Melisron, the company said in a statement to the Tel Aviv Stock Exchange.

Israel’s government in 2013 passed a law to reduce the concentration of economic power among conglomerates, barring them from holding both significant financial and non-financial businesses.

Ofer Investments is also part of a group that controls Mizrahi Tefahot, Israel’s third-largest bank. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

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