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.

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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...