Clal Insurance to acquire Max from Warburg Pincus for $770m.

Clal Insurance, an Israeli insurer, agreed to acquire Max, an Israeli financial company which offers credit solutions and other financial products, from Warburg Pincus, a private equity firm, for $770m. Clal does not foresee any difficulty in obtaining approval from the regulators, among other things because the acquisition will boost competition in the provision of credit, and other Israeli insurance companies are already deeply involved in the credit industry.