Apax Partners, Permira in Advanced Talks for Clal, Globes Says

Apax Partners LLP and private-equity firm Permira are vying to acquire Clal Insurance Enterprise Holdings Ltd. from parent IDB Holding Corp., Globes reported.

Permira is in an advanced stage of talks and is the more serious contender, while Apax is seeking to acquire Clal and merge it with Psagot Investment House Ltd. to avoid regulatory problems, the newspaper said, without saying how it obtained the information.

To contact the reporter on this story: David Wainer in Tel Aviv at dwainer1@bloomberg.net

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

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