Teddy Sagi acquires 50% of Scailex
NIS 300 million deal reflects NIS 600 million value for Scailex's cellular activity. Greenstone, controlled by beneficiaries of late Dan David, negotiated company's acquisition at a NIS 1 billion value about a month ago
The deal reflects a NIS 600 million ($158 million) value, the company reported to the Tel Aviv Stock Exchange on Monday.
After the deal is signed, Sagi will become partner in Scailex's cellular handset activity as well as in the importing of Samsung cellular devices.
According to the announcement to TASE, Sagi will help the new partnership obtain NIS 200 million ($52 million) in guarantees for the partnership's financial needs.
Furthermore, the partnership is mulling the acquisition of the Tapuz People web portal controlled by Suny Electronics for NIS 30 million ($8 million).
A month ago, Calcalist revealed that Greenstone, controlled by the beneficiaries of the late Dan David, was negotiating the acquisition of a 20% stake in Scailex's mobile activity for NIS 200 million ($52 million), reflecting a NIS 1 billion ($260 million) company value.
According to the last valuation of Scailex's held a month ago by Fahn Kanne & Co, the company's business leapt from NIS 404 million ($106 million) in the previous evaluation from late 2010 to NIS 811 million ($213 million).
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