Deals
Kushner’s Affinity Gets Nod to Double Stake in Israel’s Phoenix
- Saudi-backed firm gets approval to buy another 4.95% stake
- Phoenix’s share price has risen over 50% since mid-July deal
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Jared Kushner’s Affinity Partners received the green-light from Israeli regulators to double its stake in Phoenix Financial Ltd., an approval that allows the Saudi-backed investment firm to proceed with a lucrative deal.
Affinity can buy an additional 4.95% stake in the financial services firm from Centerbridge Partners and Gallatin Point Capital at 37.5 shekels ($10.3) a share, a spokesperson for Israel’s Capital Market, Insurance and Safety Authority told Bloomberg News.