Saban Capital Group acquires controlling interest in Partner Communications
SB Israel Telecom, an affiliate of Saban Capital Group, has closed its purchase of the controlling interest in Partner Communications Company from Scailex Corporation.
Partner, a provider of communications services in Israel, including cellular, internet and fixed telephony, operates the orange and 012 Smile brands in Israel.
The transaction includes the assumption of debt owed by Scailex to Advent Investments, a subsidiary of Hutchison Whampoa.
Haim Saban, chairman and chief executive officer of Saban Capital Group, says: “We have great confidence in the Israeli economy and we are very impressed with the quality of management, entrepreneurial spirit and strength of the local economy. I have no doubt that, together with Partner management, we can lead the company to great achievements in all areas of its operations.”
From 2005 to 2010, Saban Capital Group and its partners were investors in Bezeq Israeli Telecommunication, Israel’s incumbent telecommunications operator. From 2005 to 2008, Saban Capital Group was an investor in Keshet Broadcasting, a media brand and television station in Israel.
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