On the Way to Completing the Deal? Ayalon Examines the Future of Its Provident Fund Business

In depth

The Ayalon Insurance board authorized the company's management to examine cooperation with the Altshuler Shaham group, after Ayalon did not join the deal. Among the options to be examined: merging Ayalon's provident fund business into Altshuler Shaham Gemel and Pensia in exchange for shares in the subsidiary, according to TheMarker.

According to Globes, Ayalon entered the provident fund sector at the beginning of August and is considering giving it up, while examining acquiring holdings in Altshuler's provident fund business and entering the pension business through it as well. According to Israel Hayom, Ayalon manages about NIS 2.5 billion in provident funds.

According to Calcalist, senior figures at Ayalon tend to approve the merger, but demand receiving management of investments in the merged company.