Allied Group to pay Amir Shaltiel NIS 200m for Metropolis stake

The boom in residential construction in Israel, and in urban renewal in particular, has led to an interesting exit.On Thursday, Amir Shaltiel, founder and chairperson of Eldar Group, which deals in urban renewal, announced his intention of selling Eldar Group's 25% stake in Metropolis to Allied Group, headed by Prof. Itzhak Swary.The emerging deal values Metropolis at NIS 800 million.console.log("2390 BODY2. CatId is:"+catID);const urlParams2 = new URLSearchParams(window.location.search);let anyClipParam = urlParams2.get("anyclip");const subDomain = new URL(document.URL).host.split(".")[0];const isAnyClipEnabled = true;if(anyClipParam){ let anyclipScript = document.createElement('script'); anyclipScript.src = "https://player.anyclip.com/anyclip-widget/lre-widget/prod/v1/src/lre.js"; anyclipScript.setAttribute("pubname", "jpostcom"); anyclipScript.setAttribute("widgetname", "0011r00001lcD1iAAE_M12286"); let anyclipContainer = document.querySelector('.divAnyClip'); if (anyclipContainer) { const caption = document.createElement('p'); caption.innerText = 'JPost Videos'; caption.style.fontWeight = 'bold'; caption.style.marginBottom = '8px'; anyclipContainer.appendChild(caption); anyclipContainer.appendChild(anyclipScript); }} else if (catID === 69) { if(isAnyClipEnabled){ console.log("2390 BODY. YES for anyclip script"); let script = document.createElement('script'); script.src = 'https://player.anyclip.com/anyclip-widget/lre-widget/prod/v1/src/lre.js'; script.setAttribute('pubname','jpostcom'); script.setAttribute('widgetname','0011r00001lcD1iAAE_M12286'); document.querySelector('.divAnyClip').appendChild(script); }else{ let anyclipScript = document.createElement('script'); anyclipScript.src = "https://live.primis.tech/live/liveView.php?s=119709"; anyclipScript.setAttribute("pubname", "jpostcom"); anyclipScript.setAttribute("widgetname", "0011r00001lcD1iAAE_M12286"); let anyclipContainer = document.querySelector('.divAnyClip'); if (anyclipContainer) { const caption = document.createElement('p'); caption.innerText = 'JPost Videos'; caption.style.fontWeight = 'bold'; caption.style.marginBottom = '8px'; anyclipContainer.appendChild(caption); anyclipContainer.appendChild(anyclipScript); } }console.log("2390 BODY. YES for anyclip script catID == 69"); }else if(catID === 12 ){let widgetid = "60fd6becf6393400049e6535";var script = document.createElement('script');script.src = 'https://static.vidazoo.com/basev/vwpt.js';script.setAttribute('data-widget-id', widgetid); const container = document.querySelector('.divVidazoo'); if (container) { container.appendChild(script); }console.log("2390 BODY. YES for vidazoo script catID == 12"); }else if (catID !== 12) { let anyclipScript = document.createElement('script'); anyclipScript.src = "https://live.primis.tech/live/liveView.php?s=119709"; anyclipScript.setAttribute("pubname", "jpostcom"); anyclipScript.setAttribute("widgetname", "0011r00001lcD1iAAE_M12286"); let anyclipContainer = document.querySelector('.divAnyClip'); if (anyclipContainer) { const caption = document.createElement('p'); caption.innerText = 'JPost Videos'; caption.style.fontWeight = 'bold'; caption.style.marginBottom = '8px'; anyclipContainer.appendChild(caption); anyclipContainer.appendChild(anyclipScript); } console.log("2390 BODY. Added AnyClip script for catID not in catID != 69 && catID != 12 "); } The companies involved are privately held, but sources inform "Globes" that Shaltiel is expected to receive NIS 200 million in cash for his Metropolis stake.Metropolis was founded in 2011 jointly by Eldar Group and Allied Group, and is active in urban renewal.window.addEventListener('message', (ev)=>{ try{ if(typeof(ev.data) === "object"){ const data = ev.data; if(data && data.type === "resize"){ const height = data.payload.height; document.getElementById("cicIframe2").height = height+45+"px"; } } }catch(err){ console.log(err); } });Construction project in Jerusalem. (credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)The company has carried out vacate and build projects in central Israel, a prominent one being the renovation of Sde Boker Street in Givatayim.Long-term renting and mortgage consultingEldar Group was founded by Shaltiel in 1999. Besides urban renewal, it deals in long-term rental housing and mortgage consultancy. Shaltiel owns 90% of the company.Bank Leumi, through its investment arm Leumi Partners, is also a shareholder.Sign up for the Business & Innovation Newsletter >>