Israel’s Ministry of Communications has approved Amphissa Holdings’ acquisition of a 27% stake in Partner Communications for US$300 million.
Amphissa Holdings will obtain the stake – constituting 49,862,000 shares in Partner Communications – from S.B. Telecom. First proposed in November 2021, the deal is expected to close on 4th April 2022.
CommsUpdate reports that Amphissa Holdings’ general partner in the transaction is Israel Lighterage and Supply Co., which is understood to be owned evenly by businessmen Shlomo Rodav and Roni Gat. The limited partners predominantly consist of institutional investors, including the Clal, Menora and Phoenix groups.
The ministry’s approval is significant as it permits former Cellcom CEO Avi Gabbay to become both a limited and general partner in the future.