Deals
Cerberus-Gabriel to Divide Stake in Israel's Leumi
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Cerberus-Gabriel, a partnership of New York-based buyout funds Cerberus Capital Management LP and Gabriel Capital Group, is ending its joint control of about 10 percent of Bank Leumi Le-Israel Ltd.
Gabriel will sell its stake in a jointly controlled holding company called Barnea Investments BV and instead hold about 4.8 percent of Leumi directly, the bank said today in a statement to the Tel Aviv Stock Exchange. Cerberus will be sole shareholder of Barnea, which also will hold a 4.8 percent stake in the bank, Israel's second-largest by assets.