Discount Advances Most Since August After Clal Deal

(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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.