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New Bidder Enters Race to Acquire Cal Credit Card Company
Gil Agmon, through Dedi Cars, has entered the race to acquire Israel's Cal credit card company, initiating talks with Discount Bank. Agmon aims for a swift deal, reportedly targeting a price between 3 to 3.5 billion shekels.
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What happened
- 01Gil Agmon and Dedi Cars are in talks with Discount Bank to acquire credit card company Cal.
- 02Agmon is seeking a quick deal, reportedly at a price of 3-3.5 billion shekels.
- 03The previous deal with Horesh-Harel for Cal collapsed due to Competition Authority concerns.
- 04Discount Bank is considering a new tender process if a deal with Horesh-Harel or Agmon is not reached by November 1.
- 05Cal is the most profitable of Israel's three major credit card companies, with annual profits of 350 million shekels.
The original deal, agreed upon by Horesh-Harel, collapsed due to regulatory concerns from the Competition Authority. Discount Bank is exploring alternative options, including a new tender, while awaiting clarity on the Horesh-Harel deal by November 1.
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