Spain’s Andbank Acquires Controlling Interest In Sigma Investment Bank

November 20, 2014 | The Spanish investment bank Andbank will acquire a controlling interest in Sigma Investment Bank, according to a “Globes” report. Andbank will acquire 60 percent of Sigma’s shares, paying between NIS 25-30 million ($6.4- 7.7 million) for the shares. The remaining 40 percent of the shares, worth approx. NIS 3.5 million ($909,859), will remain under the control of the bank’s founder Prof. Dan Galai and his partners Ezra Attar and Abraham Gilat. Andbank manages over €20 billion (approx. $25 billion) in assets, and has been looking for a breakthrough into the Israeli market for some time.