03-08-2018 15:14
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One of the largest Israeli banks, Bank Leumi, has agreed with the American Warburg Pincus Fund to sell its card business. The transaction will cost $ 562 million.
Shareholders expect the sale to take place in the next four months.
The Bank sells Leumi Card because of the law adopted in 2017, which imposes credit companies to get rid of their card business to provide a competitive marketplace.
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