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Report: Bank Leumi mulls listing US unit

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Report: Bank Leumi mulls listing US unit

Bank Leumi le-Israel BM is weighing plans to list the shares of Bank Leumi USA in a move that could value the unit at more than $1 billion, Reuters reported, citing financial news website Calcalist.

The Israeli banking group is reportedly waiting for better market condition before pushing ahead with the float.

In 2018, Endicott Management Co. and MSD Capital LP bought a combined 15% stake in Bank Leumi Le-Israel Corp., the U.S. bank holding company of Bank Leumi USA, valuing the latter at just below $1 billion.