"It is possible the Recanati family will be paid a lot more than current estimates for their Swiss bank. The sum could reach $1 billion," capital market sources today told TheMarker. Until now it had been estimated that the deal would reflect a $500 million value for Discount Bank & Trust Company (DBTC).

DBTC's Israeli representative Elchanan Harel said "I have heard that speculation too, but I cannot say at this time if it is accurate."

The sources also stated it is likely the Recanatis will sell the bank in a cash transaction and not a stock swap. Oudi Recanati, his mother Dina, Leon Recanati, his sister Yehudit Yuval-Recanati and Ariel Recanati each hold 20% of the bank, therefore if it is sold for $1 billion, each one will pocket $200 million.

One source also asserted that although they decided not to move forward with a sale offer for their shipping company OSG, the Recanatis may sell it in its entirety. The shipping company¿s current market value is $680 million.

The sale of DBTC in a cash transaction and the sale of OSG would end the long-running business partnership among Recanati family members.

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