Photo Credit: Abir Sultan / Flash 90
Israeli shekels

The acquisition of Leumi Card credit card company by Warburg Pincus is to close by February 26, according to a report by the Globes business news site.

Under the agreement, Bank Leumi will receive 80 percent of the funds, and Azrieli Group Ltd. will receive 20 percent, reflecting their respective holdings in the company.

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The NIS 2.5 billion acquisition deal was signed seven months ago according to a report to investors by Bank Leumi and Azrieli Group, who own the credit card company.

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Hana Levi Julian is a Middle East news analyst with a degree in Mass Communication and Journalism from Southern Connecticut State University. A past columnist with The Jewish Press and senior editor at Arutz 7, Ms. Julian has written for Babble.com, Chabad.org and other media outlets, in addition to her years working in broadcast journalism.