August 26, 2016 8:01 PM ET

Industrial Conglomerates

Company Overview of IDB Development Corporation Limited

Company Overview

IDB Development Corporation Limited is an investment arm of IDB Holding Corp. Ltd. It seeks to acquire interests in existing businesses and encourages the establishment of new businesses in Israel. The firm invests in insurance, capital markets, communications, technology, industry, real estate, retail, trade, and tourism sectors. It prefers to take a board seat in its portfolio companies. IDB Development Corporation Limited was founded in 1981 and is based in Tel-Aviv, Israel.

3 Azrieli Center

Triangle Tower

44th Floor

Tel Aviv,  67023

Israel

Founded in 1981

Phone:

972 3 607 5777

Fax:

972 3 607 5778

Key Executives for IDB Development Corporation Limited

Chief Executive Officer and Director
Chief Financial Officer
Executive Vice President
Age: 61
Senior Vice President
Age: 62
Executive Vice President of IDB Holding Corporation Ltd
Age: 63
Compensation as of Fiscal Year 2016.

IDB Development Corporation Limited Key Developments

IDB Development Corporation Limited(TASE:IDBD) dropped from MSCI Acwi + Frontier Markets(acwi Fm) All Cap Index

IDB Development Corporation Limited(TASE:IDBD) dropped from MSCI Acwi + Frontier Markets(acwi Fm) All Cap Index

IDB Development Corporation Limited Auditor Raises 'Going Concern' Doubt

IDB Development Corporation Limited filed its Annual on Apr 10, 2016 for the period ending Dec 31, 2015. In this report its auditor, Somekh Chaikin, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Warburg Pincus And Bronfman Family Mulls Acquiring Stake In Clal Insurance

IDB Development Corporation Limited (TASE:IDBD) and Eduardo Elsztain are pushing to change the Ministry of Finance framework for insurance supervision in order to sell its stake in Clal Insurance Enterprises Holdings Ltd. on the stock exchange, other groups are expressing preliminary and non-binding interest in buying the controlling interest in the insurer as part of a strategic transaction, including investment firm Warburg Pincus LLC and the Bronfman family. IDB Development said, Given the current market, we should not be selling the Clal Insurance stake through the framework ordered by the regulator because there is room to find an alternative framework which will allow the company to sell its shares in Clal Insurance as part of a deal to sell the controlling interest, or another framework which prevents the damage to the company that will be caused if the regulator's framework is implemented.

Similar Private Companies By Industry

Company Name Region
Federmann Enterprises Ltd. Middle East/Africa
Ganden Holdings Ltd. Middle East/Africa
Globe International Holdings S.A. Middle East/Africa
Ha'argaz Ltd. Middle East/Africa
IDB Holding Corporation Ltd. Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 27, 2016
Clal Insurance Enterprises Holdings Ltd.
Merger/Acquisition
March 18, 2016
--
Merger/Acquisition
February 21, 2016
--
 

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