Yafit Geriani Met Yesterday with the Director General of the Finance Ministry. On the Agenda: Postponing the Sale of Cal
At the beginning of the month, Bank Discount renewed the sale process of Cal, after the original agreement for its sale to the Union-Harel group at a value of up to 4 billion shekels expired.…
Assessment
The CEO of Cal, Yafit Geryani, took the unusual step of meeting directly with the Finance Ministry's director general to discuss delaying the sale of the credit card company. This signals that the timeline pressure from Discount Bank, which recently revived the sale process after the original deal with Union-Harel collapsed, is creating real friction. The meeting puts the Finance Ministry in the middle of a commercial dispute between Discount Bank and Cal's management. Watch whether the ministry intervenes to extend the deadline or lets the bank push forward.