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

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(Corrects sum of deal.)

May 20 (Bloomberg) -- IDB Holding Corp.’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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