|By Business Wire||
|January 29, 2013 10:40 AM EST||
S.B. Israel Telecom Ltd., an affiliate of Saban Capital Group, Inc., announced today it has closed its purchase of the controlling interest in Partner Communications Company Ltd. (TASE: PTNR; NASDAQ: PTNR) from Scailex Corporation Ltd. (TASE: SCIX). Partner, a leading provider of communications services in Israel, including cellular, Internet and fixed telephony, operates the orangeTM and 012 Smile brands in Israel. The transaction includes the assumption of debt owed by Scailex to Advent Investments Pte Ltd., a subsidiary of Hutchison Whampoa Limited (HKEX: 13).
Haim Saban, Chairman and Chief Executive Officer of Saban Capital Group said, “We have great confidence in the Israeli economy and we are very impressed with the quality of management, entrepreneurial spirit and strength of the local economy. I have no doubt that, together with Partner management, we can lead the Company to great achievements in all areas of its operations.”
Adam Chesnoff, President and Chief Operating Officer of Saban Capital Group said, “We are excited about our investment in Partner and to be re-entering the Israeli market. We would also like to convey our appreciation to Partner's dedicated employees and the excellent management team headed by CEO Haim Romano. Together, we will strengthen the Company for the benefit of its employees, customers and stakeholders.”
From 2005-2010, Saban Capital Group and its partners were investors in Bezeq Israeli Telecommunication Corp. (TASE: BEZQ), Israel’s incumbent telecommunications operator. From 2005-2008, Saban Capital Group was an investor in Keshet Broadcasting Ltd., the leading media brand and television station in Israel.
Saban Capital Group received legal advice from Zellermayer, Pelossof, Rosovsky, Tsafrir, Toledano & Co. Advocates and Skadden, Arps, Slate, Meagher & Flom LLP, financial advice from Deutsche Bank Israel and transaction advisory services from KPMG Somekh Chaikin.
About Saban Capital Group
Saban Capital Group ("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 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.
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. Partner also provides mobile communications services to approximately three million subscribers in Israel and provides international long distance services, internet services and local telecommunication fixed-line services (including telephony services using VOB) under the 012 Smile brand. 012 Smile is a wholly owned subsidiary of Partner Communications. 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). More information can be found at www.orange.co.il/en/Investors-Relations/lobby/.
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