FBC Advises B Communications in its NIS 982M sale of Bezeq shares

FBC advised long standing client B Communications (“B-Com”), the controlling shareholder of Bezeq, Israel’s largest provider of telecommunications services, in a block trade transaction for the sale of approximately 4.18% of the shares of Bezeq. The total gross consideration was NIS 982 million.

The shares were pledged as collateral as part of a pledge over B-Com’s controlling interest in Bezeq to secure B-Com’s obligations to the holders of its internationally offered Senior Secured Notes.

The firm also provided regulatory advice relating to the requisite approvals for the sale of holdings in Bezeq both pursuant to the Israeli Communications Law and B-Com’s permit to control Bezeq.