Saban Capital Group’s acquisition of a stake in Israeli telco Partner Communications from holding company Scailex closed today.
As TelecomFinance previously reported, Saban Capital – owned by US-Israeli media magnate Haim Saban – had agreed to…
Saban Capital Group’s acquisition of a stake in Israeli telco Partner Communications from holding company Scailex closed today.
As TelecomFinance previously reported, Saban Capital – owned by US-Israeli media magnate Haim Saban – had agreed to acquire Scailex’s stake in the telco for about US$365.13m and to take on Partner’s debt pile of US$300m.
“We have great confidence in the Israeli economy and we are very impressed with the quality of management, entrepreneurial spirit and strength of the local economy,” said Saban in a company statement today. “I have no doubt that, together with Partner management, we can lead the company to great achievements in all areas of its operations”.
Adam Chesnoff, President and COO at Saban Capital Group added: “We are excited about our investment in Partner and to be re-entering the Israeli market. We would also like to convey our appreciation to Partner’s dedicated employees and the excellent management team headed by CEO Haim Romano.”
Saban was advised by Zellermayer, Pelossof, Rosovsky, Tsafrir, Toledano & Co. Advocates and Skadden, Arps, Slate, Meagher & Flom LLP, Deutsche Bank Israel and KPMG Somekh Chaikin.
