Ireland withdraws multi-million euro investments from 6 Israel companies

The Irish government has withdrawn investments worth millions of euros from several Israeli companies.

The Irish National Treasury Management Agency (NTMA) confirmed that it decided to divest almost €3 million from its global equity portfolio in the Ireland Strategic Investment Fund (ISIF).

The NTMA confirmed that it had taken the decision to withdraw about €3 billion ($3.8 billion) from its global portfolio of shares in the ISIF, according to the British news agency PA Media.

The divestment decision concerns shareholdings with a total value of €2.95 million in the following six companies: Bank Hapoalim BM, Bank Leumi-le Israel BM, Israel Discount Bank, Mizrahi Tefahot Bank Ltd, First International Bank and Rami Levi CN Stores.

Irish Finance Minister Michael McGrath explained that it was ‘the correct decision”, adding: “ISIF has determined that the risk profile of these investments is no longer within its investment parameters and that the commercial objectives of these investments can be achieved via other investments.”

McGrath continued: “The decision will be implemented as soon as possible over the coming weeks.”

(Source: MEMO)