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Fortissimo acquires Cellcom at a value of NIS 2.6 billion - voila! money

2023-12-05T06:05:55.218Z

Highlights: Fortissimo acquires Cellcom at a value of NIS 2.6 billion - voila! money. A memorandum of understanding was signed between the parties that will enable the intended purchaser to perform due diligence. The value of the company according to the agreement is NIS2.6billion. This represents an 18% premium over the market value at which the company is currently traded. In the coming weeks, Fortissimo will conduct due diligence on the company in preparation for its continued execution.


A memorandum of understanding was signed between the parties that will enable the intended purchaser to perform due diligence


Yuval Cohen, Fortissimo. The Company will perform due diligence/Fortissimo

Cellcom is on its way to changing hands: A memorandum of understanding was signed between the current owners, Deskas, and the Fortissimo Fund to acquire control of the communications company Cellcom.

The value of the company according to the agreement is NIS 2.6 billion, which will give Desk NIS 925 million for 35.6% of the company's shares on the agenda.

This represents an 18% premium over the market value at which the company is currently traded. In the coming weeks, Fortissimo will conduct due diligence on the company in preparation for its continued execution.

Fortissimo is a private Israeli investment fund founded in 2004 that focuses mainly on industrial and technology companies. Among others, it invests in SodaStream, Slopark, Sela Software Labs, Giga Spaces, Salt of the Earth, Sugat and more. The founder and director of the foundation is Yuval Cohen.

  • More on the subject:
  • Cellcom
  • Desk
  • Fortissimo

Source: walla

All business articles on 2023-12-05

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