IDB Development in Advanced Talks to Sell Controlling Stake in Clal Insurance

Buyer is reportedly Chinese firm Hang Lung Group; Tel Aviv court last month set a late August deadline for IDB to sell its stake in Clal.

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A Chinese investor – reported to be the Hang Lung Group – is in advanced talks to buy a 30% stake in Clal Insurance Enterprises Holdings, the insurer's majority shareholder IDB Development Corporation...