Summit Real Estate Holdings Ltd. (Tase:SMTZohar Levy, yesterday sold its full share of 16 % in the Israeli energy and retail company Paz Oil Company Ltd. (level:Disappearance) For 1.1 billion NIS, in one of the largest deals on the Tel Aviv Stock Exchange recently. Sources tell “Globes” that the stocks were purchased by Cliving Insurance, More Investment House, Altshuler Shaham, with Menora MINRATATACHIM, Harel, Meitav and Lapidot buy smaller shares.
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The deal, led by insurance companies, will be completed in two phases. Yesterday, Levy sold two -thirds of its holdings for 700 million NIS with a 4 % discount on the market price. Buyers were given the option to buy the remaining third for 350 million NIS, assuming that the full deal is practiced, and in this event it will not have a stake in Paz.
The price of the summit today increased by 10 %, while Paz decreased by 5 %.
The capital is earned for more than 500 million New in four years
After completing the deal, Summit will get to know the capital profit with about 500 million New. This is after I started buying the shares in Paz in 2021, and it has invested over the years about 660 million NIS, to become the largest shareholder in the company, which is operating without a controlling share. In addition, Summit benefited from profits of about 100 million NIS, distributed by PAZ throughout the year and a half last year.
It was published by Globes, Israel Business News – En.globes.co.il – on July 24, 2025.
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