Ilan Ben-Dov controlled Scailex Corp. Ltd. (TASE: SCIX; Pink Sheets:SCIXF) today announced that it will sell 980,000 shares in Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) to Excellence Investments Ltd. (TASE: EXCE), controlled by Yitzhak Tshuva, at NIS 69.10 per share for NIS 67.7 million. The bloc amounts to 0.64% of Partner's share capital.
The sale will take place after Scailex closes its acquisition of 51.3% of Partner from Hutchison Telecommunications International Ltd. (NYSE: HTX; HKSE: 2332). Scailex is carrying out the acquisition through Advent Investments pte. Ltd.
The deal for the sale of the bloc of Partner shares to Excellence unit Excellence Nessuah TASE Services Ltd. follows the sale of a small blocs of Partner shares to Bank Leumi (TASE: LUMI) and Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) earlier this month. The purpose of both deals is to help finance Ben-Dov's NIS 5.3 billion acquisition of the controlling interest in Partner.
Earlier reports mentioned Mizrahi Tefahot Bank (TASE:MZTF) as a possible buyer of the Partner shares.
Partner's share rose 0.6% at the opening on Nasdaq today to $19.88. The share rose 0.2% on the TASE to NIS 74.22.
Yitzhak Tshuva-controlled Delek Group Ltd. (TASE: DLEKG) subsidiary Israel Phoenix Assurance Ltd. (TASE: PHOE1;PHOE5) owns 60.43% of Excellence Investments.
Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2009
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