A Fin Management LLC signed an agreement to acquire 4.95% stake in The Phoenix Holdings Ltd. (TASE:PHOE) from Belenus Lux S.a.r.l. for approximately NIS 470 million on July 15, 2024. All Transactions are conducted through out of market transactions at a price per share of NIS 37.50. In related transaction, An additional ~6.5% of the shares will be executed in off-market blocks to various international institutional investors, including Lazard Asset Management.

Affinity Partners has further committed to acquiring an additional 4.95% of Phoenix subject to receipt of regulatory approval. Concurrently, Delek will also acquire a 4.99% stake in Phoenix at the agreed rate of NIS 37.50 per share. Upon completion of the Transactions, Belenus will hold ordinary shares of the Company constituting approximately 14.97% of the Company's issued share capital (and assuming the completion of the Additional Affinity Transaction, Belenus will hold a percentage of approximately 10.02% of the Company's issued share capital).

The transaction with Affinity shall be consummated no later than 16 business days from the date of execution of the agreement. Jefferies acted as sole global coordinator, bookrunner and financial advisor to Centerbridge and Gallatin Point on the transaction. Fischer (FBC & Co.) and Daniel Turgel, Joel Rubinstein, Inigo Esteve, Monica Holden, Adnan Bekdu, and Bob Lehner White & Case LLP acted as legal counsel to the sellers.

Gornitzky and McDermott Will & Emery acted as legal counsel to Affinity. Mizrahi Tefahot Bank Ltd. acted as lender to Centerbridge and Gallatin in their original share purchase as well as agent in connection with this transaction.