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Bethel Finance news:
Scailex Corporation (TASE: SCIX; Pink Sheets:SCIXF) controlling shareholder Ilan Ben Dov is attempting to raise cash by selling part of the Samsung mobile phone import and distribution activities that he owns. Scailex today reported that it is in talks to sell 50% of its activities to Playtech Cyprus Ltd. (AIM:PTEC) controlling shareholder Teddy Sagi for NIS 300 million.
Negotiations are for Scailex's import and distribution of Scailex mobile handsets in Israel, which is valued at NIS 600 million. If the deal goes through then Sagi will provide Scailex with guarantees worth NIS 200 million, with Sagi and Scailex becoming equal partners in the Samsung importing activities.
Scailex also reported that it is also in talks with Teddy Sagi to acquire Tapuz People Ltd. (TASE:TPUZ), which is controlled by Suny Electronics Ltd. (TASE: SUNY) (Scailex's parent company) for NIS 30 million. The deal would also include a building owned by Suny and used for importing and distributing handsets.
Ben Dov's efforts come as he attempts to reach a debt settlement for Tao Tsuot Ltd. (TASE: TAO-M), which he controls, and in the shadow of sharp falls of the share price of Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR), the Orange wireless carrier franchisee, of which he is also the controlling shareholder
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