Bezeq Israel Telecom has received an offer from Searchlight Capital Partners, a US-based private investment firm, for buying a controlling stake for up to 485 million shekels or $133.3 million.
Internet Gold has been searching for a buyer for its majority stake in B Communications, the parent company of Bezeq Israel Telecom, since mid-2018 under pressure from bondholders. BCom’s single asset is a 26.34 percent controlling stake in Bezeq, Israel’s largest telecoms group.
Internet Gold said on Sunday it received an offer from Searchlight to buy its 19.4 million BCom shares for 17 shekels each to be paid at the closing plus up to another 8 shekels a share contingent on meeting certain targets, according to a regulatory filing.
Searchlight also offered a second option of 17.5 shekels a share with no further conditions.
Searchlight will enter a seven-day negotiation period on Feb. 14. Internet Gold said the proposal has not yet been examined by its board of directors and expects the plan to be discussed at Thursday’s bondholders’ meeting.
