LONDON - Belenus Lux S.a.r.l, a shareholder in Phoenix Financial Ltd, has completed the sale of a substantial portion of its holdings in the company, divesting 14,162,211 ordinary shares at a price of NIS 44.75 each. This transaction, which involved a select group of institutional investors, generated proceeds of approximately $173 million, equivalent to 5.7% of Phoenix Financial's existing share capital.
The sale is contingent on regulatory approval for a previously announced transaction in July 2024, where 4.95% of Phoenix's share capital is to be acquired by Affinity Partners. Following this, the current placement represents nearly the entirety of Belenus Lux's remaining stake in Phoenix Financial.
Jefferies LLC played a key role in the transaction as the Sole Global Coordinator and Sole Bookrunner. The settlement for the placement is scheduled for December 2, 2024. It is important to note that Phoenix Financial will not receive any proceeds from this placement.
This significant sale comes with several legal and regulatory disclaimers, emphasizing that the placement shares have not been registered under the United States Securities Act of 1933 and are not available in certain jurisdictions where such offers or sales would be prohibited by law. The transaction is directed exclusively at qualified investors in the United Kingdom (TADAWUL:4280) and the European Economic Area, as well as relevant persons in the United Kingdom with professional experience in investment matters.
The announcement also clarifies that the placing shares have not been and will not be registered in the United States and are not intended for public offering in various jurisdictions, including the United Kingdom, the United States, Australia, Canada, Japan, and South Africa.
In connection with the placing, Jefferies LLC or any of its affiliates may take up a portion of the shares for their own account, and they have disclaimed any responsibility to provide advice to anyone other than the selling shareholder regarding the placement.
The details of this transaction were provided in a press release statement, which serves as the source of information for this news article. The press release also stipulates that no public offering of the securities is being made in any jurisdiction.
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