Gilad Altshuler and Kalman Shaham Sell Pension Business to WeSure
Insurance company WeSure Global Tech and CEO Yair Levinstein are acquiring a controlling stake in Altshuler Shaham Finance. Under the agreement, WeSure will hold 45% of the shares, while Levinstein will increase his ownership to 25%. The price per share in the transaction is set at 9.093 shekels. The total value of the acquisition reaches 1 billion shekels.
Following the completion of the transaction, Altshuler Shaham Finance becomes a subsidiary of WeSure Global Tech. The change in ownership does not affect the current savings of the clients. Depositors’ funds remain in their existing accounts and selected investment tracks. Service conditions and management fees also stay unchanged.
The Altshuler Shaham brand will disappear from the pension and provident fund market within 18 months. Meanwhile, Gilad Altshuler and Kalman Shaham retain full control over the private investment house. They continue to manage mutual funds, portfolio management services, and cryptocurrency operations.
