February 21, 2018 / 8:43 AM / 6 months ago

Arison talks to bring in partners for Israel's Bank Hapoalim fail

TEL AVIV, Feb 21 (Reuters) - Arison Holdings said on Wednesday that talks to bring in three North American financial institutions to share its controlling interest in Bank Hapoalim ended without reaching a binding agreement.

In September, billionaire Shari Arison signed a preliminary agreement to sell 49 percent of Arison Holdings, through which she holds a controlling 20 percent stake in Hapoalim, Israel’s largest bank.

“The talks between the parties ended without reaching a binding agreement,” Arison Holdings said in a statement without providing details.

The Arison family has controlled Hapoalim for two decades. Arison’s father, Ted, who made his fortune as founder of Carnival Cruise Line, was part of a consortium that bought control of the bank from the government. Arison, Israel’s wealthiest woman, has since bought out her partners. (Reporting by Tova Cohen; Editing by Steven Scheer)

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