JERUSALEM Dec 2 Israeli holding company Scailex
Corp said on Sunday it had agreed to sell most of its
stake in Partner Communications to Saban Capital
Saban will pay NIS 250 million ($65 million) in cash and
take on a $300 million debt that Scailex owes to Hong Kong
conglomerate Hutchison Whampoa, Scailex said in a statement to
the Tel Aviv Stock Exchange.
Scailex - which owns 44.5 percent of Partner - will keep
13.8 percent while Saban will hold 30.7 percent. Suny,
Scailex's parent company will keep its 1.4 percent. The
remaining shares are held by the public.
Scailex began talks with U.S.-Israeli media magnate Haim
Saban last month about a possible sale of Partner,
Israel's second-largest mobile phone operator.
Hutchison, from which Scailex controlling shareholder Ilan
Ben-Dov acquired Partner three years ago, has a lien on 12
percent of the company's shares.
In August, Hutchison pulled out of a deal to regain control
of Partner by buying 75 percent of Scailex and analysts had said
Scailex would seek a new buyer for Partner.
(Writing by Maayan Lubell; Editing by Tova Cohen and Pravin