March 18, 2018 / 11:23 AM / 3 months ago

Belgium's Dexia sells stake in Israeli unit for 350 mln shekels

JERUSALEM, March 18 (Reuters) - Belgian lender Dexia sold its controlling stake in Israeli subsidiary Dexia Israel Bank for 350 million shekels ($101 million), the Israeli company said on Sunday.

Dexia unloaded its 58.89 percent stake for 674 shekels a share to institutional investors in an off-bourse sale, Dexia Israel said in a statement to the Tel Aviv Stock Exchange.

After the sale, Dexia Israel will no longer have a controlling shareholder.

Shares in Dexia Israel were down 6.62 percent at 722.7 shekels in afternoon trading. ($1 = 3.4555 shekels) (Reporting by Ari Rabinovitch, Editing by Tova Cohen)

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