Summit Partners

growth-positive

Summit Real Estate Holdings Ltd., controlled by Zohar Levy, sold its entire 16% stake in Paz Oil Company Ltd. for NIS 1.1 billion. The shares were acquired by institutional investors including Clal Insurance, More Investment House, and Altshuler Shaham. The transaction, one of the largest on the Tel Aviv Stock Exchange recently, will be completed in two stages. Summit will recognize a capital gain of nearly NIS 500 million from the sale, having invested about NIS 660 million in Paz since 2021. Summit also benefited from a NIS 100 million dividend from Paz over the past year and a half.