It is also willing to make a much-needed $11.45 million cash injection.
In 2016 Spacecom was negotiating a $285 million deal with China’s Beijing Xinwei Technology Group. However, the talks collapsed after the September launch pad explosion of the SpaceX Falcon 9 rocket that destroyed Amos 6.
Calcalist reports that IDB subsidiary Discount Investment Corporation, agreed to triple its initial offer for the satellite operator.
Spacecom owes $420 million to institutional creditors, including Israel’s three largest banks.
Any deal must first be approved by an Israeli District Court.