Israeli Minister of Finance Benjamin Netanyahu instructed his staff to expedite the handling of the privatization of Bank Leumi this current year, through a sale on the stock market, without selling a controlling interest.
In order to facilitate the process, the Ministerial Committee for Legislation will be submitted a bill based on the Marani Report, for examining the aspects related to the sale of Bank Leumi via the capital market, with no controlling interest, with the intention of completing the legislative process in the Knesset (parliament), during the current summer session.
In the event that the legislative process is completed in August, it will be possible to prepare a prospectus for an offering that will be conducted this year, according to a ministry press release. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
