Koor Industries’ Signs Agreement to Invest in Epsilon Investment House

TEL AVIV Israel Jan. 29 /PRNewswire-FirstCall/ — Koor Industries (NYSE: KOR) (“Koor”) a leading Israeli investment holding company announced that it has signed an agreement (the “Agreement”) to acquire 50% joint-control of Epsilon Investment House (“Epsilon” or the “Company”) for NIS 105 million (approx. $22m); Approx. half this amount will be injected into the company the other half will be used to acquire shares from the current founders and managers — Shmuel Frenkel and Ron Levkovich (the “Founders”). The transaction will be conducted based on a pre-money company value of NIS 160 million (approx. $35m). Following the transaction Koor will hold 50% in Epsilon and the remaining 50% will be held by the company’s Founders.

Epsilon Investment House is an Israeli boutique investment house offering a full range of financial services including — portfolio management mutual funds’ management provident fund management underwriting and hedge fund management. Established in 1988 Epsilon currently has NIS 4.5 billion (approx. $1 billion) Assets under Management (AuM). » Koor Industries’ Signs Agreement to Invest in Epsilon Investment House