Migdal Insurance (TASE:
) may lend the Ganden Holdings group NIS 150 million to buy the controlling interest in
IDB Holding Corporation (TASE:
Ganden is controlled by businessman Nochi Dankner.
If the deal is finalized, it will make Migdal the biggest non-banking institution taking part in financing the deal, Yehuda Sharoni writes.
In a meeting with Migdal's chiefs, the Ganden representatives undertook to provide guarantees of the same quality provided to
Bank Leumi (TASE:
), which is the biggest source of financing for the takeover.
Ganden has reportedly also asked the Tamar provident fund for financing. Another pension fund, Mivtachim, is also expected to lend Ganden money for the deal.