Dexia Group has published a denial to reports this week that Dexia Israel may be sold to Bank of Jerusalem (TASE: JBNK).
The denial said, "Dexia vehemently denies reports that there any talks with the Bank of Jerusalem or its representatives at this stage. We do not intend to make any more comment on rumors or reports regarding the offer that the Bank of Jerusalem published."
Dexia Group added, "As we have published several times in the past, we are committed to a competitive and orderly sale procedure for Dexia Israel to maximize shareholders value."
On Tuesday, there were reports that the Bank of Jerusalem had submitted an offer to purchase Dexia Israel (Public Finance) Ltd. The proposal for the acquisition of Dexia Israel was made at a meeting of the Bank of Jerusalem board of directors. Bank of Jerusalem's CEO is Uri Paz. Dexia Israel's main business is providing credit to the local authorities.
Under the proposal, the Bank of Jerusalem would buy 100% of the shares of Dexia Israel and make it into a private company.
Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014