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Multiple Bidders Emerge for Cal Credit Card Company
Multiple entities, including Assaf Rappaport and the founders of Direct Insurance, are reportedly interested in acquiring Cal, an Israeli credit card company, after a previous deal with George Horesh and Harel collapsed. The Antitrust Authority had blocked the earlier NIS 3.75-4 billion deal.
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What happened
- 01Assaf Rappaport and Direct Insurance founders are among new bidders for Cal.
- 02A previous deal for Cal with George Horesh and Harel collapsed due to antitrust concerns.
- 03Daled Auto, Centana Bridge Fund, and Jerusalem Bank are also exploring Cal acquisition.
- 04The Antitrust Authority blocked the prior deal over Horesh's conflict with Shufersal.
- 05Cal's technological infrastructure and market scarcity drive renewed bidder interest.
Other potential bidders include Daled Auto, Centana Bridge Fund, and Jerusalem Bank. The renewed interest is attributed to a potentially lower price, favorable timing, Cal's technology, and a lack of similar assets on the market.
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