Strauss Says Shareholder Sells 5.3 Million Shares

Strauss Group Ltd. shareholder Strauss Holdings Ltd. sold about 5.3 million shares, reducing its stake in the Israeli maker of food products to about 66 percent, the company said in a bourse filing.

Bank Hapoalim Ltd. said in a statement read by a spokeswoman over the phone that it bought the 4.9 percent stake as part of its financial strategy to diversify its investments. Neither company gave a figure for the transaction. The Calcalist said Hapoalim bought the holding for 297 million shekels ($82.8 million).