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"Do you think I'll invest half a billion dollars in any ego insurance?"

Against the background of the Finance Ministry's examination of the application for a control permit, Alfred Akirov says: "Clal Insurance's opposition to the deal is understandable. They want to keep the chair. I'm not sure I will join the board, but I intend to include Dudu Granot with Clal Insurance."

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• Alfred Akirov

• Clal Insurance

• Moshe Barkat

Yehuda Sharoni

Tuesday, 07 December 2021, 09:11 Updated: 09:27

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"Do you think I'll invest half a billion dollars in Clal Insurance just for ego and revenge reasons? Whoever claims this is talking nonsense," says businessman Alfred Akirov, who is interested in acquiring control of Clal Insurance.

According to Akirov, "Alrov's board of directors has legally approved the deal, and I have no stakeholders there."

Yesterday, Akirov (through attorney Guy Ne'eman) officially submitted the documents required to approve the purchase of the insurance company.

Akirov added: "I am investing the money in the long run. This is a good deal, and contrary to these and other claims, I have no other considerations here and I have no interest in taking revenge on the management of Clal Insurance (for opposing one of the stakeholder transactions in Georgia). .That)".

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Alfred Akirov: "I have no other considerations here and I have no interest in taking revenge on the management of Clal Insurance" (Photo: Reuven Castro)

"Benny George will not be on the board"

Akirov estimates that he will not have difficulty raising the financing required to carry out the deal and that he has all the means at his disposal.

In order to purchase Clal, Akirov will also be asked to make a partial purchase offer from the general public, as well as to present available capital from independent means, estimated at NIS 2.5-3 billion.

"I would not have gone for a 15% purchase if I had not had a serious intention. I will meet all the conditions he will set before the Supervisor of Insurance. I am still not sure if I will join the board and in what format. Benny George will not be on the board. "First-class and the best people like Dudu Granot."

It should be noted that Granot previously served as a member of the board of directors of Alrov, also controlled by Akirov, and as a director of several banks.

We also asked Akirov about the future of the managers at Clal Insurance, under his leadership.

Akirov: "The company's management's opposition to the deal is understandable. They want to keep the chair. However, I will not address the issue at the managerial level. Those who will handle this will be the people on the board. We will work solely according to the rules and the law."

Dr. Moshe Bareket, the Commissioner, has already begun testing the application for the permit. According delivered, it will require Akirov all the conditions of the acquisition, including the capital requirements determined based on accounting rules known as solvents.

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