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Bank Leumi sells stake in US unit

Bank Leumi le-Israel BM closed its sale of a 15% stake in Bank Leumi Le-Israel Corp., the U.S. bank holding company of Bank Leumi USA, to Endicott Management Co. and MSD Capital LP.

The deal valued Bank Leumi USA at a net worth value of just under $1 billion.

The sale carried a transaction value of about $141 million.

MSD Capital is the private investment company that manages the assets of Michael Dell, the founder of Dell Technologies, and his family.