Full coverage· Economy· Updated
Delek Motors Explores Acquiring Control of Cal Credit Card Company
Delek Motors, controlled by Gil Agmon, is exploring a potential acquisition of Israel's Cal credit card company, valued at up to NIS 3.5 billion. This comes as Cal's current owner, Discount Bank, must divest its controlling stake by May 2027 due to competition reforms.
2 newsrooms · 1 language · since
Plus
What happened
- 01Delek Motors, controlled by Gil Agmon, is reviewing a potential acquisition of Cal credit card company.
- 02The potential deal values Cal at up to NIS 3.5 billion, with Agmon considering a 50-55% stake.
- 03Discount Bank must reduce its 72% stake in Cal to 40% by May 2027 due to competition reforms.
- 04A prior deal to sell Cal to Union Group and Harel Insurance is in jeopardy over regulatory demands.
- 05Centrige Group and Jerusalem Bank have also expressed interest in acquiring Cal.
- 06Cal is the most profitable of Israel's three major credit card companies, with annual profits around NIS 350 million.
A previous deal to sell Cal to Union Group and Harel Insurance was jeopardized by regulatory concerns, prompting renewed efforts to find a buyer. Other potential bidders include Centrige Group and Jerusalem Bank.
The coverage
2 newsrooms on this story
Who covered it
- LeftNone
- CentreNone
- Right1
- HarediNone
- ArabNone
- Other1
How it broke
See which of the 2 newsrooms broke it, and who waited
