No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Wednesday, October 1, 2025
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Harel, George Horesh bid for Cal

by TheAdviserMagazine
5 months ago
in Business
Reading Time: 2 mins read
A A
Harel, George Horesh bid for Cal
Share on FacebookShare on TwitterShare on LInkedIn


After a lull lasting several weeks, the race to buy credit card company Cal has started up again. Insurance company Harel, controlled by the Hamburger family, has teamed with George Horesh’s Union Investments and Development to make a bid for the 72% of Cal owned by Israel Discount Bank, according to a notification to the Tel Aviv Stock Exchange by Harel this morning.

Harel said that the move was “part of the company’s strategy of diversifying its sources of earnings and expanding its activity in the provision of credit.” The notification also stated that First International Bank of Israel, which holds 28% of Cal, has the right to join the deal, that is, it can force Harel and Horesh to buy its stake in the credit card company as well.





RELATED ARTICLES




Competition Authority allows Delek takeover of Isracard






Harel adds that the bid was made in the framework of a call for offers from Discount Bank. The process is being managed for Discount Bank by US investment bank JP Morgan, which has generated interest among several international entities in buying Cal.

Earlier this year, Cal CEO Levy Halevy conducted a road show in London in which he presented the company to several large overseas entities. Harel and Horesh’s offer is non-binding. Bidders who pass the first stage of the process will be required to submit binding offers in the second stage.

Harel and Union will set up a corporation 51% owned by the latter and 49% owned by the former. They stressed that any deal will require regulatory approvals, including from the governor of the Bank of Israel and the Competition Authority. This is not a technical or marginal matter. Two years ago, Harel tried to buy Isracard, but the Competition Authority, fearing harm to competition in health insurance, thwarted the deal. It is not clear whether a deal to acquire Cal will have an easier regulatory pathway.

Among the overseas entities that have expressed interest in Cal are investment firms such as Blackstone, Centerbridge Partners, Gallatin Point Capital, and Apax Partners. In Israel, Menora Mivtachim, which failed in its bid to take over Isracard, is examining the possibility of bidding for Cal, alone or with others.

Harel and Union’s valuation of Cal has not been disclosed, and in any case is non-binding at his stage. Rival credit card company Max was sold for NIS 2.5 billion two years ago, and Yitzhak Tshuva’s Delek Group is in the process of taking over Isracard at a valuation of NIS 3.56 billion. Discount Bank hopes to obtain a valuation of over NIS 4 billion for Cal, which seems an ambitious goal, but in the light of the number of expressions of interest could prove realistic.

Published by Globes, Israel business news – en.globes.co.il – on May 7, 2025.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.




Source link

Tags: bidCalGeorgeHarelHoresh
ShareTweetShare
Previous Post

Bitcoin-backed loans ‘obvious’ next step — Xapo Bank CEO

Next Post

Defence stocks surge 50% in a month. ‘Operation Sindoor’ type tactical buy or overkill?

Related Posts

edit post
AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

by TheAdviserMagazine
October 1, 2025
0

The so-called “godfather of AI”, Yoshua Bengio, claims tech companies racing for AI dominance could be bringing us closer to...

edit post
Conagra Reaffirms Outlook Even As Tariffs Add To Inflation

Conagra Reaffirms Outlook Even As Tariffs Add To Inflation

by TheAdviserMagazine
October 1, 2025
0

Conagra Brands Inc. (NYSE:CAG) on Wednesday posted first-quarter fiscal 2026 results that topped Wall Street expectations but showed year-over-year declines....

edit post
US markets regulators start shuttering as government shutdown cuts federal funding

US markets regulators start shuttering as government shutdown cuts federal funding

by TheAdviserMagazine
October 1, 2025
0

U.S. market regulators began the process of furloughing workers on Wednesday as the federal government shut down after Congress failed...

edit post
I’m the CEO of an AI startup that finds blind spots in visual data. If missed, it can cripple your AI models

I’m the CEO of an AI startup that finds blind spots in visual data. If missed, it can cripple your AI models

by TheAdviserMagazine
October 1, 2025
0

Every company wants to make breakthroughs with AI. But if your data is bad, your AI initiatives are doomed from...

edit post
SIPs for first-timers, lumpsums for veterans in JioBlackRock Flexi Cap Fund: Rishi Kohli

SIPs for first-timers, lumpsums for veterans in JioBlackRock Flexi Cap Fund: Rishi Kohli

by TheAdviserMagazine
October 1, 2025
0

Amid current economic indicators and shifting geopolitical dynamics, Rishi Kohli, CIO of JioBlackRock Mutual Fund, recommends that first time investors...

edit post
MODEC secures full EPCI contract to deliver FPSO for Hammerhead project

MODEC secures full EPCI contract to deliver FPSO for Hammerhead project

by TheAdviserMagazine
October 1, 2025
0

MODEC has secured the full engineering, procurement, construction and installation (EPCI) contract to deliver a floating production, storage and offloading...

Next Post
edit post
Defence stocks surge 50% in a month. ‘Operation Sindoor’ type tactical buy or overkill?

Defence stocks surge 50% in a month. 'Operation Sindoor' type tactical buy or overkill?

edit post
Links 5/7/2025 | naked capitalism

Links 5/7/2025 | naked capitalism

  • Trending
  • Comments
  • Latest
edit post
What Happens If a Spouse Dies Without a Will in North Carolina?

What Happens If a Spouse Dies Without a Will in North Carolina?

September 14, 2025
edit post
California May Reimplement Mask Mandates

California May Reimplement Mask Mandates

September 5, 2025
edit post
Who Needs a Trust Instead of a Will in North Carolina?

Who Needs a Trust Instead of a Will in North Carolina?

September 1, 2025
edit post
Does a Will Need to Be Notarized in North Carolina?

Does a Will Need to Be Notarized in North Carolina?

September 8, 2025
edit post
DACA recipients no longer eligible for Marketplace health insurance and subsidies

DACA recipients no longer eligible for Marketplace health insurance and subsidies

September 11, 2025
edit post
‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

‘Quiet luxury’ is coming for the housing market, The Corcoran Group CEO says. It’s not just the Hamptons, Aspen, and Miami anymore

September 9, 2025
edit post
US markets regulators start shuttering as government shutdown cuts federal funding

US markets regulators start shuttering as government shutdown cuts federal funding

0
edit post
Shutdown, Clampdown, Clownshow or Horror Movie?

Shutdown, Clampdown, Clownshow or Horror Movie?

0
edit post
XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally

XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally

0
edit post
How to build confidence in your financial life

How to build confidence in your financial life

0
edit post
LVMH: Top-Analystenhäuser heben die Daumen!

LVMH: Top-Analystenhäuser heben die Daumen!

0
edit post
AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

0
edit post
Shutdown, Clampdown, Clownshow or Horror Movie?

Shutdown, Clampdown, Clownshow or Horror Movie?

October 1, 2025
edit post
XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally

XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally

October 1, 2025
edit post
AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years

October 1, 2025
edit post
AI Agents Have Entered the Real World

AI Agents Have Entered the Real World

October 1, 2025
edit post
LVMH: Top-Analystenhäuser heben die Daumen!

LVMH: Top-Analystenhäuser heben die Daumen!

October 1, 2025
edit post
Meet the end-of-life planning startup co-founded by NBA All Star Russell Westbrook

Meet the end-of-life planning startup co-founded by NBA All Star Russell Westbrook

October 1, 2025
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Shutdown, Clampdown, Clownshow or Horror Movie?
  • XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally
  • AI godfather warns humanity risks extinction by hyperintelligent machines with their own ‘preservation goals’ within 10 years
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.