Isracard shareholders approve acquisition by Delek

The shareholders of the Israeli credit card company (Tase: ISCD) yesterday voted in favor of selling control over the company Delek Group (Tase: Delkg), which is controlled by Yitzhak Tshuva, in the company's assessment of 3.56 billion NIS. After voting, ISRACARD shareholders agreed to the agreement signed by the company's management with Delek Group, which paved the way for the company to sell control of the company.

However, the approval of the shareholders is not the end of the story. The bank supervisor must obtain Daniel Hahiashvili, Michel Cohen, Chairman of the Competition Authority in Israel, Chairman of the Competition in Israel, Chairman of the Competition Authority in Israel, Michel Cohen, Chairman of the Competition Authority in Israel, and the head of the competition authority in Israel, Michel Cohen. While the approval of the bank supervisor is more complicated, the Delek Group shows in recent months that it has been in advanced negotiations on this issue since June 2024, so that the authority of competition in Israel does not face any problem in approval of the deal. The next step is to wait and see if the approval is received from the Bank of Israel. If regulatory approvals are received, Delek is expected to control in ISRACARD.

Delek is close to its goal of purchasing control of ISRACARD earlier this week when the president of the Tamar Yassur Ran Oz was excluded Menora Mivtachim (Tase: MMHD) and Jerusalem (Tase: JBNK).

It was published by Globes, Israel Business News – En.globes.co.il – on February 21, 2025.

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