Can Nochi Dankner meet the deadline to sell Clal Insurance?
His previous efforts led nowhere and the regulatory environment is tough, but its last two CEOs have worked hard to clean up the business.
This past Sunday Tel Aviv District Court Judge Eitan Orenstin gave IDB Development Corporation 70 days to sell half its 55% stake in Clal Insurance Enterprises Holdings. The proceeds are meant to pay down part of the NIS 8 billion owed to IDB Development’s creditors.
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