The Phoenix becomes party at interest in Teva

The Phoenix becomes party at interest in Teva

At the end of 2023, Israeli insurance and finance group The Phoenix Holdings’ stake in Teva was 5.4%.

Insurance and finance group The Phoenix Holdings (TASE: PHOE) has become a party at interest in Teva Pharmaceutical Industries (TASE: TEVA; NYSE: TEVA). The Phoenix had a holding of 5.4% in Teva at the end of 2023, today’s company filing with the US Securities and Exchange Commission (SEC) reveals.

The Phoenix holds 60.5 million shares in Teva, currently worth $732 million. According to the filing, The Phoenix holds the shares through several subsidiaries. As a passive investor, The Phoenix is not obliged to report when it bought the shares and at what prices. Teva’s share price ranged between $7.2 and $11.4 in 2023. The current price is $12.38, giving the company a market cap of $13.9 billion.

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The Phoenix is currently the only party at interest in Teva (ie, has a holding of 5% or more). In recent years, parties at interest in the company were mainly overseas entities. Until not long ago, US investment company Capital Research was the largest shareholder in Teva, with a holding of 10.3%, but it sold all of its Teva shares in April-May 2023.

Published by Globes, Israel business news – en.globes.co.il – on February 1, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

Teva’s R&D labs in Netanya credit: Teva PR

Maya Levin and Shiri Habib-Valdhorn

 

 

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