IDB’s Clal buyer transfers $20m to trustee
It’s unknown whether agreement with buyer contains conditions beyond Israeli regulators’ approval, which is necessary since Clal handles significant public funds.
IDB Development’s agreement to sell part of its Clal Insurance stake advanced over the weekend as buyer Charoen Pokphand, a company controlled by Chinese billionaire Dhanin Chearavanont, transferred $20 million into a trustee account in Israel. It’s not clear how likely the deal is to go through.
Like us on Facebook and get articles directly in your news feed