The company now owns 12.8% of PSP Swiss Property, worth NIS 1.5 billion.
Alony Hetz Property and Investments Ltd. (TASE: ALHE) has bought more PSP Swiss Property AG (SWX:PSPN) shares for 67 million Swiss francs (NIS 231 million). This is Alony Hetz’s second purchase of PSP shares in three weeks.
With the latest purchase, Alony Hetz owns 6.01 million PSP shares, 12.8% of the company’s issued share capital. Alony Hetz has invested 384 million Swiss francs (NIS 1.3 billion) in PSP to date, and the stake has a current market cap of 427 million Swiss francs (NIS 1.5 billion) on the Zurich Stock Exchange. PSP has a market cap of 3.3 billion Swiss francs (NIS 11.5 billion).
PSP is Europe’s 13th largest real estate company.
Published by Globes [online], Israel business news - www.globes.co.il - on January 7, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006