nsurance group Wesure acquires 67% of Ayalon insurance for approximately NIS 447.6 million


by Ifi Reporter Category:Financial Jun 30, 2022

The technology and insurance group Wesure Global Tech reports today that the Ayalon transaction has been completed, in which Vishur acquires 67% of the shares of the Ayalon insurance group for approximately NIS 447.6 million. Vishor also reports at this stage on the signing of a financing agreement with a leading banking corporation that will grant it a loan of approximately NIS 90 million, an agreement that expresses an expression of trust in the transaction and its ability to maximize value.
The completion of the transaction is a continuation of the agreements reached yesterday by Vyshor and the estate manager of the late Levy Rahmani, and accordingly a third addition was signed to the Vyshor-Ayalon transaction agreement. In addition, as part of the additional amendment to the agreement, the amount of the seller's loan to GlobalTech was increased by an additional NIS 7.5 million, to approximately NIS 62.5 million.
Caesarea Medical Electronics has completed its investment in the GlobalTech alignment to the amount of NIS 260 million, and Zvi and Anat Barak are becoming part of the controlling nucleus in the alignment of insurance and Ayalon Insurance, together with Emil Weinschel and Nitzan Tzair Harim. In addition, the Ben Yishai family's investment in Golbatech was completed today for NIS 20 million, at a price of NIS 6.3 per share.
Along with organic growth, the group believes in a strategy of smart acquisitions and mergers and collaborations while using the group's technology and knowledge while performing a technological transformation into traditional and conservative organizations. Now that the acquisition of the controlling shares in Ayalon has been completed, the volume of activities of the Vishor GlobalTech Group (Ayalon and Vyshor Insurance) are bringing the company to become a dominant company in the Israeli market, with an annual gross premium of NIS 3.5 billion in a wide range of areas. In the branches of general insurance, health and life insurance. The group's total assets are expected to stand at more than NIS 17 billion.
Ayalon CEO Sharon Reich said: "Ayalon welcomes the new owners. We are confident that this transaction, which brings with it many strategic benefits, will lead to the implementation of many actions, which will be reflected in the improvement of business results and the prosperity of the company. I have no doubt that together we will lead Ayalon to excellent results and significant achievements. "



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