Partner Communications Announces the Closing of the Transactions between Scailex And S.B. Israel Telecom and Between S.B. Israel Telecom and Leumi Partners
ROSH HA'AYIN, Israel--(BUSINESS WIRE)-- Partner Communications Company Ltd. ("Partner" or "the Company") (Nasdaq: PTNR) (TASE:PTNR), a leading Israeli mobile communications operator, announces the closing of the transaction between Scailex Corporation Ltd. ("Scailex"), and S.B. Israel Telecom Ltd. ("S.B. Israel Telecom"), an affiliate of Saban Capital Group Inc., pursuant to which Scailex sold and transferred to S.B. Israel Telecom approximately 28.82% of the issued and outstanding share capital of Partner.
For more information, see the Company's press releases and immediate reports on Form 6-K dated December 2/3, 2012, December 12, 2012 and January 21/22, 2013.
Following the completion of the transaction, certain directors resigned from Partner's Board of Directors and the following new directors were appointed: Mr. Arieh Saban, Mr. Adam Chesnoff, Mr. Shlomo Rodav, Mr. Fred Gluckman, Mr. Elon Shalev, Mr. Sumeet Jaisinghani and Mr. Yoav Rubinstein.
Further to the Company's press release and immediate report on Form 6-K dated January 24, 2013 regarding the share purchase agreement entered into between Leumi Partners Ltd., a company wholly owned by Bank Leumi le-Israel B.M., and S.B. Israel Telecom, according to which S.B. Israel Telecom will purchase from Leumi Partners approximately 2.06% of the issued and outstanding share capital of Partner, the Company has been informed by S.B. Israel Telecom that its transaction with Leumi Partners, has been completed concurrently with the closing of the transaction between Scailex and S.B. Israel Telecom.
Accordingly, following the consummation of the above transactions, S.B. Israel Telecom holds approximately 30.87% of the issued and outstanding share capital of the Company.
For more information regarding the transaction between Scailex and S.B. Israel Telecom, see Scailex's full immediate report at: http://maya.tase.co.il/bursa/report.asp?report_cd=792774 or its informal English translation attached hereto and to our immediate report on Form 6-K to be furnished to the Securities and Exchange Commission today.
This press release includes forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E of the US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "project", "goal", "target" and similar expressions often identify forward-looking statements but are not the only way we identify these statements. All statements other than statements of historical fact included in this press release regarding our future performance, plans to increase revenues or margins or preserve or expand market share in existing or new markets, reduce expenses and any statements regarding other future events or our future prospects, are forward-looking statements.
We have based these forward-looking statements on our current knowledge and our present beliefs and expectations regarding possible future events. These forward-looking statements are subject to risks, uncertainties and assumptions about Partner, consumer habits and preferences in cellular telephone usage, trends in the Israeli telecommunications industry in general, the impact of current global economic conditions and possible regulatory and legal developments. For a description of some of the risks we face, see "Item 3D. Key Information - Risk Factors", "Item 4. - Information on the Company", "Item 5. - Operating and Financial Review and Prospects", "Item 8A. - Consolidated Financial Statements and Other Financial Information - Legal and Administrative Proceedings" and "Item 11. - Quantitative and Qualitative Disclosures about Market Risk" in the Company's 2011 Annual Report (20-F) filed with the SEC on March 22, 2012, as amended on March 26, 2012. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and actual results may differ materially from the results anticipated. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Partner Communications
Partner Communications Company Ltd. ("Partner") is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony and internet services) under the orange™ brand and the 012 Smile brand. The Company provides mobile communications services to over 3 million subscribers in Israel. Partner's ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).
For more information about Partner, see: http://www.orange.co.il/en/Investors-Relations/lobby/
About S.B. Israel Telecom Ltd.
S.B. Israel Telecom Ltd. is an affiliate of Saban Capital Group, Inc. ("SCG"). SCG is a leading private investment firm based in Los Angeles specializing in the media, entertainment, and communication industries.
SCG was established in 2001 by Mr. Haim Saban, co-founder of Fox Family Worldwide, a global television broadcasting, production, distribution and merchandising company owned in partnership with Rupert Murdoch and The News Corporation until its sale to The Walt Disney Company in October 2001. The firm currently makes both controlling and minority investments in public and private companies and takes an active role in its portfolio companies. SCG's current private equity investments include Univision (the premier Spanish-language media company in the US); Celestial Tiger Entertainment (a venture with Lionsgate and Astro, Malaysia's largest pay TV platform, to launch and operate new branded pay television channels across Asia); Taomee (China's leading children's online entertainment company); MNC (Indonesia's largest and only vertically-integrated media company); and Sky Vision (Indonesia's largest Pay TV platform). Saban Brands LLC, an affiliate of SCG, was formed in 2010 to acquire, manage and license entertainment properties and consumer brands across media and consumer platforms globally, and currently holds the rights to Power Rangers and Paul Frank Industries in its portfolio. With offices in Los Angeles and Hong Kong, SCG actively manages a globally diversified portfolio of investments across public equities, credit, alternative investments, and real property assets.
For more information about SCG, see: http://www.saban.com.
About Scailex Corporation Ltd.
Scailex Corporation Ltd. currently operates in two major domains of activity in addition to its holding in Partner: (1) the sole import, distribution and maintenance of Samsung mobile handset and accessories products primarily to the major cellular operators in Israel (2) management of its financial assets. Scailex's shares are traded on the Tel Aviv Stock Exchange under the symbol SCIX and are quoted on "Pink Quote" under the symbol SCIXF.PK.
For more information about Scailex, see: http://www.scailex.com.
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KEYWORDS: United States North America Middle East Israel
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