Discount Investment to sell shares in Cellcom for NIS 925m
Discount Investment Corporation will sell its 35.7% stake in telecoms giant Cellcom to the Fortissimo Fund for NIS 925 million, reflecting a value of NIS 2.6 billion.
Arnon, Tadmor Levy advised Discount Investment, with the sale led by Shiri Shaham, Shai Margalit and Or Pearl.
Having been signed in December 2023, the regulatory approvals were completed just last month, with the Competition Authority’s approval, handled by Shai Bakal, Eyal Hacohen, Omer Tshuva and Noa Hever at the firm.
As one of the most prominent business groups in Israel, Discount Investment Corporation and their respective investees manage a portfolio of investments in leading companies in Real Estate, Telecommunications, Technology, Agriculture, and Asset Management. The group’s companies through their respective investees have over 5,000 employees and hold an aggregate total of USD 6 billion in assets.
