Abu Dhabi's ADQ leads consortium to buy stake in Israel's Phoenix Group

Abu Dhabi's ADQ leads consortium to buy stake in Israel's Phoenix Group

Abu Dhabi, United Arab Emirates. Photo by Nick Fewings on Unsplash

A consortium led by Abu Dhabi state holding firm ADQ is in advanced negotiations to acquire a controlling stake in Israeli financial firm Phoenix Group in a deal that values the company at around 9.2 billion shekels ($2.70 billion), the companies said on Wednesday.