Granite Rises Most in Two Months in Tel Aviv After Tambour Buy

Granite Hacarmel Investments Ltd. (GRNT) advanced the most in more than two months after the marketer of petroleum and automobile products said it will acquire the remaining stake in Tambour Ltd. (TMBU)

The shares of Granite climbed 5.1 percent, the biggest intraday gain since March 21, to 4.1 shekels at 11:52 a.m. in Tel Aviv.

After the acquisition Granite will hold a 95 percent stake in Tambour and delist the shares from the Tel Aviv bourse.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

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

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