Menora Mivtachim Holdings Ltd. to take controlling stake in credit card company Isracard
Categories: Corporate and M&A
Subject to obtaining various required approvals, Menora Mivtachim, one of Israel’s leading insurance and financial groups, will acquire approx. 33% of Isracard’s shares at a company valuation of NIS 3.15 billion.
The move follows several earlier attempts by other entities to acquire Isracard after its spin-off from Bank Hapoalim in 2019.
Herzog advised buyer Menora, with the transaction spearheaded by partner Nir Sivan, and supported by associate Shiri Cohen and intern Karin Vaknin.
