Markstone seeks partners for Prisma
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[May 21, 2007]

Markstone seeks partners for Prisma

(Israel Business Arena Via Thomson Dialog NewsEdge) Markstone Capital Partners Group LLC is seeking two or three partners for Prisma Capital Markets Ltd. Each partner would acquire 5-15% of Prisma, reducing Markstone's holding to 75%.

Prisma is Israel's largest investment house and mutual and provident fund management company, managing NIS 50 billion in assets.

Markstone is reportedly only interested in partners who can add value to Prisma. Markstone has been negotiating with Goldman Sachs Group Inc. (NYSE:GS) over the past year, but the talks have gone nowhere. Sources inform ''Globes'' that because of the slow pace of the talks, only two large international institutional investors have contacted Markstone with the idea of replacing Goldman Sachs as an investor in Prisma.



Until now, Goldman Sachs had a conflict of interests regarding Prisma because it advised Bank Leumi (TASE: LUMI) on the sale of its provident funds, which Prisma acquired. The sale was completed in January, eliminating the conflict of interest.

As Globes first revealed last week, Goldman Sachs' board will meet in Jerusalem in June. The subject of Prisma will probably come up for discussion.



Menorah Mivtachim Holdings Ltd. (TASE: MORA) will probably buy 5% of Prisma, as part of a comprehensive pension cooperation agreement. Menorah owns Israel's largest pension fund, the New Mivtachim Pension Fund. Prisma has no pension fund under management.

Published by Globes [online], Israel business news - www.globes.co.il - on May 20, 2007

Copyright of Globes Publisher Itonut (1983) Ltd. 2007

Copyright 2007 Globes, Source: The Financial Times Limited

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