IDB and Schreier vie for Barclays Discount. (Israel Discount Bank Ltd., Bernard Schreier, Barclays Discount Bank Ltd.)

Israel Business Today, December, 1992

Israel Discount Bank is interested in purchasing Britain's Barclays Bank's holdings in Barclays Discount Bank Ltd. British Barclays controls roughly 50 percent of the Israeli Barclays Discount. The rest of the shares are owned by Israel Discount. It is estimated that Israel Discount plans to pay $75 million for the British share.

British Barclays' decision to sell its holdings is based on a new business strategy which limits bank activities to Europe only. However, British businessman Bernard Schreier is also looking to buy the British bank's share, although Israel Discount has the right of first refusal. Doubt exists however, as to whether the Bank of Israel would permit Discount to purchase Barclay's shares. Some observers feel that a sale may hurt Barclays...

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