Isracard Cancels Deal to Acquire Nir Tzuk's Digital Bank Over Unresolved Terms
Isracard announced on Sunday evening that the memorandum of understanding (MoU) it signed with the shareholders of Bank Ash, which included due diligence provisions, has expired and was not extended by either party. This development effectively ended the planned acquisition of the digital bank by Isracard, which was valued at up to 500 million shekels. The failure to reach mutual understandings led to the collapse of the transaction. The company communicated this update through a report to the stock exchange. No further details on the reasons for the breakdown were provided.
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