First International Bank has agreed to sell its 28 percent stake in CAL-ICC for approximately 1.1 billion shekels. The payment will be made in cash, with a portion contingent upon future company performance. This follows Discount Bank's earlier decision to sell its majority stake, valuing the company at 4 billion shekels. The transaction requires approval from regulatory authorities, including the Israel Competition Authority and Bank of Israel, which may take several months. Upon completion, First International Bank expects to record a significant net profit from the sale, with potential for additional earnings if certain conditions are met.
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