Hamat Group Ltd. (TASE:HAMAT) acquired 80% stake in HeziBank for ILS 76 million on November 9, 2017. The price includes seller HeziBank assuming 80% of the company’s debt and turning over 80% of cash on hand when the acquisition in completed, as well as an option from both sides for Hamat to buy the remaining within a year after the initial acquisition is completed. HeziBank had revenues of ILS 150 million and EBITDA of 20 million in the year 2016. Margalit, Founder of HeziBank will continue to work as Chief Executive Officer of HeziBank. Hamat Group Ltd. (TASE:HAMAT) completed the acquisition of 80% stake in HeziBank on November 9, 2017.