Following the resignation of Cellcom, Avi Gabay takes over Partner with other investors

by time news

An investor group that includes Avi Gabay, Shlomo Rodev and three institutional entities will acquire the communications company Partner from the Chinese Hutchison for $ 300 million. The parties signed the deal today (Wednesday), after reaching agreements after a particularly quick negotiation that lasted less than a week.

The deal is subject to regulatory approvals, headed by the Ministry of Communications, which will be required to grant a control permit to Gabay and Rodev in the company. The Apollo Fund, which has been conducting parallel negotiations, has withdrawn from the acquisition in recent hours.

The deal unveiled at Calcalist will transfer control of Partner into the hands of Rodev, Gabay, and four institutional entities: the Phoenix that was the living spirit behind the deal, Clal Insurance, Menora and the Arkin Group of Mori Arkin.

The group will pay $ 300 million, with Gabay and Rodev holding 10% of the shares acquired and receiving institutional funding for 80% -90% of the consideration.

Gabay, former chairman of the Labor Party and Minister of Environmental Protection on behalf of the All of Us party, was appointed CEO of Cellcom about two years ago. Gabay previously served as Bezeq’s CEO from 2008-2013, and after his retirement he turned to political life. After Nahal discriminated in the elections two years ago, he left politics.

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