Scailex Corp. ltd. (TASE: SCIX; Bulletin Board:SCIXF.OB) today held a successful institutional tender. The company, controlled by Ilan Ben-Dov, and which recently acquired a controlling stake in wireless carrier Partner Communications Co. Ltd. (Nasdaq: PTNR; TASE:PTNR; LSE:PCCD), raised NIS 1 billion in pledges from institutional investors.
In the next stage of Ben-Dov's plan to finance the acquisition of Partner, Scailex plans to raise an additional NIS 800 million from the public.
One major surprise was that Shaul Elovitch, who lost out to Ben-Dov in the race to buy Partner, committed to buy NIS 58 million of Scailex bonds.
Institutional sources told "Globes" that they were extremely satisfied with the planned acquisition deal for Partner. The deal is less leveraged than first thought, has an aggressive dividend distribution component and financing from Hutchison, which is selling the company as well as the equity backing of Scailex.
Published by Globes [online], Israel business news - www.globes-online.com - on September 6, 2009
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