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Strauss Says Shareholder Sells 5.3 Million Shares

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Dec. 27 (Bloomberg) -- 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).

To contact the reporters on this story: Susan Lerner in Jerusalem at slerner2@bloomberg.net Gwen Ackerman in Jerusalem at gackerman@bloomberg.net.

To contact the editor responsible for this story: Calev Ben-David at cbendavid@bloomberg.net

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