Discount Bank Reopens Tender for Sale of Cal

In depth

Discount Bank published an official announcement that the deal to sell Cal to George Horesh and Harel is off the table. According to Calcalist, the Competition Authority conditioned approval of the deal on Horesh's Union selling its holdings in Super-Pharm, and Horesh did not agree. The agreement to sell it for NIS 3.75 billion expired, according to Calcalist, after the Competition Authority did not approve it.

Discount is now preparing for a new tender. According to Globes, Horesh and Harel are also among the leading candidates. The bank is required to complete the sale of control of Cal by May 2027.