Menora Mivtachim Group

growth-positive

Israeli businessman Aaron Frenkel has increased his stake in Tamar Petroleum by purchasing a 9% stake from Menora Mivtachim for NIS 320 million, raising his total holdings to 16%. This move follows his earlier sale of a 10% stake in the Tamar reservoir to SOCAR for NIS 1.25 billion. The Tamar field, located in the Mediterranean Sea, has significant gas reserves and production capacity. The transaction reflects a growing geopolitical relationship between Israel and Azerbaijan, as SOCAR is a major stakeholder in the field. The deal was completed without a premium on the market price, as Tamar Petroleums stock has risen significantly this year.

growth-negative

Teva Pharmaceutical Industries Ltd. has seen two Israeli institutional investors, Menora Mivtachim and Phoenix Financial Ltd., each acquire a 5% stake in the company, with US asset manager Fidelity holding a 7.1% stake. Despite these investments, Tevas stock has fallen 26% since the beginning of the year. The company plans to lay off 250-300 employees in Israel as part of a streamlining plan to cut 8% of its workforce by 2027. Analysts expect a slight increase in revenue and EPS in the upcoming financial report. The companys market cap stands at $18.7 billion.