Saban Capital Group Buys Into Israeli Telecom Provider

LOS ANGELES: The Saban Capital Group affiliate S.B. Israel Telecom has purchased a controlling interest in Partner Communications Company, a leading provider of telecommunications services in Israel, from Scailex Corporation.

Partner operates the orange and 012 Smile brands in Israel. The transaction includes the assumption of debt owed by Scailex to Advent Investments. The investment marks Saban’s re-entry into the Israeli communications market. From 2005-2010, Saban and its partners had been investors in Bezeq Israeli Telecommunication Corp.

Haim Saban, the chairman and CEO 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, the president and chief operating officer of Saban Capital Group, added, “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.”