Bloomberg News

Discount Advances Most Since August After Clal Deal

May 20, 2012

(Corrects stake sold in first paragraph.)

Discount Investment Corp. (DISI) jumped the most since August after its parent company IDB Development Corp. said it signed an accord to sell 49.9 percent of Clal Industries and Investments Ltd. (CII) to Access Industries Holdings Inc.

The shares added 12 percent, the biggest intraday gain since Aug. 14 to 9.972 shekels at 10:11 a.m. in Tel Aviv.

Discount announced the deal, which gives Clal a value of 2.55 billion shekels.

To contact the reporter on this story: Gwen Ackerman in Jerusalem at gackerman@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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