Amphissa cleared to acquire Partner stake

Amphissa cleared to acquire Partner stake

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.

Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.
Sending occasional e-mail from 3rd parties about industry white papers, online and live events relevant to subscribers helps us fund this website and free weekly newsletter. We never sell your personal data. Click here to view our privacy policy.