US investment firm Centerbridge Partners has been in initial talks to buy a stake in Clal Insurance Enterprise Holdings (TASE: CLIS). Centerbridge formerly held a stake in Phoenix Financial (TASE: PHOE), which it sold in 2024, so that although it made a huge profit on the investment, it missed out on the stock’s 200% rise over the past year.
Centerbridge has reportedly been holding talks with companies in the Israeli market recently, including with Alfred Akirov, who holds 14.3% of Clal shares and is also seeking to buy the controlling interest, in efforts that the Capital Markets, Insurance, and Savings Authority has refused to approve.
Centerbridge denies that a deal is on the table
Centerbridge denies that an acquisition is on the table but confirms that some talks have taken place. A senior source at the investment firm tells "Globes," "To the best of Centerbridge's knowledge, Alfred Akirov is not selling Clal Insurance shares and the Centerbridge fund has not spoken to anyone in the market." The source added that "Right now we do not have even a quarter of contact with the market."
The source does not deny that talks with Alfred Akirov took place. "We meet with him every now and then and ideas have come up about all sorts of things, including other things, and we are expected to meet with him this week, but right now I cannot say that we are in a concrete process, and not just with him but in general. We have not spoken to any other party either. I do not know if anyone else is talking to him, but certainly not Centerbridge."
Centerbridge claims that the fund is not looking to gain control of Clal Insurance by purchasing shares from other insurance companies that also hold Clal Insurance totaling 14.3% of the company's equity. If the move with Akirov does indeed happen in the end, it would be a change of direction for him.
A year ago, Akirov was still planning to continue increasing his stake in Clal and told "Globes’ he was confident that he would receive the long-awaited control permit and hold 30% of the shares. But the cold shoulder from the Commissioner of Capital Markets, Insurance, and Savings, Amit Gal may haver persuaded Akirov to reconsider his options.
Published by Globes, Israel business news - en.globes.co.il - on October 21, 2025.
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