Partner Seeks Court Approval to Pay Dividend via Debt Despite Profit Test Failure
How 1 Israeli newsrooms covered this story — translated into English and compared side by side.
First reported by Globes · 2 days ago
What happened
Partner Communications, controlled by the Ampissa Group, has requested court approval to pay a 500 million shekel dividend funded by 750 million shekels in new debt, increasing its leverage for the first time since acquisition. The move, unusual under Israeli law, requires court approval as it does not meet the profit test but passes the solvency test. Partner forecasts strong future cash flows and expects to maintain financial stability despite the increased debt.
- 01Partner requests court approval to pay 500 million shekel dividend funded by 750 million shekels in debt.
- 02This dividend payment bypasses the profit test but meets the solvency test under Israeli law.
- 03Partner's debt ratio will rise from 0.7 to 1.1 next year, the highest in three years.
- 04Ampissa Group, controlling shareholder, stands to gain about 106 million shekels from the dividend.
- 05S&P Maalot rates Partner ilAA minus, warning of downgrade only if debt-to-EBITDA exceeds 2 long-term.
- 06Analysts view the move positively, citing Partner's lower leverage compared to competitors Bezeq and Cellcom.
Summary translated & synthesized from the sources below by baba. Read each original for the full report.
Full coverage · 1 outlets
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