Yoav Harlap seems to be set to promote his 28% stake in Israel’s largest automobile importer to institutional buyers.
Yoav Harlap, who holds a 28% stake in Colmobil, is in talks to promote his holding to institutional buyers at an organization valuation of NIS 8 billion. Colmobil is Israel’s largest automobile importers with unique rights to import Mercedes, Hyundai and Mitsubishi automobiles.
Harlap is believed to be desirous to increase into different enterprise areas and his household who maintain the opposite shares, led by his brother and Colombil chairman Shmuel Harlap, favor promoting the minority holding to a big institutional investor, much like the deal accomplished two years in the past by rival automobile importer Mayer Vehicles and Vehicles, when the Shahar and Kass households bought a stake to The Phoenix Holdings (TASE: PHOE). Yoav Harlap has not been concerned in Colmobil’s automobile enterprise actions for a number of a long time. He invests in a variety of corporations and areas together with actual property abroad, and he lives overseas for a lot of the 12 months.
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Colmobil’s excessive valuation displays the truth that it was answerable for 17.6% of the automobiles delivered in Israel within the first 9 months of 2024 and it is usually a number one importer of heavy automobiles and buses. It’s nearly double the valuation of NIS 4.1 billion, by which the Phoenix invested in Volvo and Honda importer Mayer Vehicles and Vehicles.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on October 14, 2024.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
