IDB Signs Accord to Sell 50% of Its Holding in Clal

(Corrects sum of deal.)

IDB Holding Corp. (IDBH)’s unit IDB Development Corp. signed an agreement to sell half of its 61 percent holding in Clal Industries and Investments Ltd. to Access Industries Holdings Inc. in a deal that values the unit at 2.55 billion shekels ($667 million), the company said in an e-mailed statement today.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

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

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