Bank Hapoalim is in negotiations to buy 15 percent of Delek Real Estate, the two companies said in a joint statement Thursday.
At the same time, Delek Real Estate confirmed reports that it is in talks to buy a 13.1% stake in Industrial Buildings Ltd. from Bank Hapoalim.
The statement came in response to a report in the Hebrew press Thursday morning, which said the company was asking approximately $70 million from Hapoalim for the stake, almost one-fifth more than its market value.
On news of the negotiations, Delek Real Estate shares rose 2.2% to NIS 18.54, while shares in Hapoalim dropped 3% to NIS 17.36 at the close of trade in Tel Aviv.
Delek Real Estate is 91% held by Yitzhak Tshuva's Delek Group.
Through its 87.5% interest in Dankner Investments and full control of Delek Belron International, the company owns and manages real estate investments in Israel, Europe and Canada.
Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>