Eldav Soars to 3-Year High on Plans to Sell Holding

Eldav Investments Ltd. jumped to the highest level in more than three years after the investment company agreed to sell its 40 percent stake in Medtechnica Ltd., an importer of medical equipment.

The shares increased 15 percent to 4.505 shekels, the highest since August 2007, at the 4:30 p.m. close in Tel Aviv, giving the company a market value of 166 million shekels ($47 million). Medtechnica advanced 3.4 percent to 28.07 shekels.

Eldav will sell the stake to Ilex Medical Ltd. for 190 million shekels, it said. Ilex Medical rose 1.8 percent to 37.99 shekels.

To contact the reporter on this story: Ronit Goodman in Tel Aviv at rgoodman9@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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