IDB deal surprise: Kardan renewing talks on acquiring control
Also conducting parallel talks to bring new partner into deal, to replace Australian Lowy family
Kardan Investments, managed by Joseph Grunfeld, has renewed talks to acquire control of IDB Holdings, according to Ma'ariv reporter Yehuda Sharoni. Kardan is conducting parallel talks to bring a new partner into the deal, to replace the Australian Lowy family.
According to estimates reported in Ma'ariv the new deal is slated to close at a significantly lower value than the previous agreement, which had put a $1.3 billion price tag on IDB. In addition, Kardan¿s controlling authorities will be greatly expanded.
