Harel is to buy Israel’s largest credit card Isracard for NIS 2.9 billion
One of the largest financial services groups in Israel, Harel has agreed to buy Israel’s largest credit card company, Isracard for NIS 2.9 billion.
The deal must be approved by Isracard’s shareholders, as well as the Israel Competition Authority, which recently approved Clal Insurance’s acquisition of credit card company Max from Warburg Pincus. Once completed, Isracard will delist from the TASE and will become a private company wholly owned by Harel.
EBN advised Isracard on the transaction, led by Doni Toledano, Shay Dayan, Nitzan Aberbach, Irina (Iris) Kusheland Alon Abramovich of the M&A and Corporate practice, Moty Yamin, Yonatan Haimi – Erenreich and Shaked Yehiel–Sorek of the Capital Markets and Securities practice, with support from Michal Rothschild (Antitrust & Competition), Miriam Kleinberger-Attar and Noa Bar-Shir Labor), Dr. Eran Lempert and Tal Alon (Tax) and Lior Etgar (Data Protection and Privacy).
Arnon, Tadmor-Levy advised Harel, led by Shiri Shacham, Shai Margalit and Gil Oren.
