Citibank is positioning itself to take over Mizrahi Bank.

Citibank has agreed to buy the 13% stake the heirs of American businessman Abe Feinberg hold in Mizrahi if the controlling shareholders sell their interest to Citibank within three months, Ma'ariv reports. The price agreed on is 10% above Mizrahi's book value.

Mizrahi's controlling shareholders are the Wertheim and Ofer families.