IDB unit Discount Investment will sell NIS 150 million worth of shares in Cellcom, Property and Building, and Koor within the coming days.
Discount Investment Corporation (TASE: DISI), a unit of IDB Holding Corp. Ltd. (TASE:IDBH), controlled by chairman Nochi Dankner, today notified the TASE that it intends to sell NIS 150 million worth of shares in Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL), Property and Building Ltd. (TASE: PTBL), and Koor Industries Ltd. (TASE:KOR) in off-floor transactions. The sales are intended to improve the company's cash position.
Discount Investments said that it would sell up to NIS 55 million worth of shares in Cellcom, up to NIS 65 million worth of shares in Koor, and up to NIS 30 million worth of shares in Property & Building. Discount Investments owns 43.6% of Cellcom, 70% of Koor, and 79% of Property and Building.
Published by Globes [online], Israel business news - www.globes-online.com - on February 7, 2013
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