Investec General Bank is negotiating to acquire the control in publicly traded brokerage DS Securities & Investments, a member of the Shrem Fudim Kelner group, reports Ma'ariv.
The deal could be carried out at a company value of $20 million.
DS Securities manages investment portfolios and mutual funds totaling some NIS 5 billion. Investec manages assets and investments worth some NIS 1 billion.
Investec is planning to expand its activity in investments management and become one of the leading brokerage firms in the local market.
The most plausible scenario is the acquisition of SFK's entire stake in DS Securities (36%), and a cash infusion into the acquired company.