Arison's 20 percent share in Hapoalim, Israel's biggest bank, is valued at 6.5 billion shekels (£1.3 billion).
The price will be based on Arison Holdings' equity based on a valuation for Hapoalim of 24.82 shekels a share, Arison Holdings said in a statement to the Tel Aviv Stock Exchange on Sunday. Arison said there was no certainty that a deal, which requires approval from the Bank of Israel, will be completed.
Hapoalim's shares closed at 24.13 shekels on Tuesday, the last day of trading before a Jewish holiday.
(Reporting by Tova Cohen; Editing by Steven Scheer)