The Phoenix becomes party at interest in Teva

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.

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.

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