Persall Pte. Ltd. and Kelburgh Pte. Ltd. entered into a conditional agreement to acquire 75% stake in Scailex Corp., Ltd. (TASE:SCIX) from Suny Electronic Inc. Ltd. (TASE:SUNY) for approximately $130 million in cash on June 5, 2012. Persall will acquire 50% and Kelburgh will acquire 25% stake. Suny will retain a 3.6% stake in Scailex. Upon completion of the transaction, Hutchison Whampoa will extend the repayment date of the $300 million loan by three years from 2014 to 2017. Scailex will repurchase approximately 50% of its outstanding non-convertible bonds at 69% of their total value. In a related transaction, Suny Electronic Inc. Ltd. (TASE:SUNY) agreed to acquire Samsung Ce cellular handsets import, distribution and services business Scailex Corp., Ltd. (TASE:SCIX) for $100 million. Suny Electronic will pay a termination fee of $5 million.

Amikam Cohen will be appointed as Chairman of the Board of Partner Communications to replace Ben-Dov, current Chairman of Partner. The transaction is subject to approval from regulatory authorities, antitrust approval, shareholder approvals, the sale of the Samsung business and the successful repurchase of at least 50% of Scailex's non-convertible bonds. Lazard Ltd. and Deutsche Bank AG (France) acted as financial advisor to Scailex. Daniel Wolf and David Fox of Kirkland & Ellis LLP acted as legal advisors for Scailex. Goldman Sachs (Asia) L.L.C. acted as financial advisor to Hutchison Whampoa. Ehud Sol and Ilanit Landesman Yogev of Herzog Fox Neeman acted as legal advisor to Hutchison Whampoa.

Persall Pte. Ltd. and Kelburgh Pte. Ltd. cancelled the acquisition of 75% stake in Scailex Corp., Ltd. (TASE:SCIX) from Suny Electronic Inc. Ltd. (TASE:SUNY) on August 21, 2012. Persall Pte. Ltd. and Kelburgh Pte. Ltd. cancelled the acquisition becuase conditions under the agreement were not fulfilled.