Tnuva deal agreed: Apax Fund's control of the company will be sold to a Chinese-controlled company at a market value of 8.6 billion NIS, according to the financial website TheMarker. Apax currently holds 56% of Tnuva shares.
The final price will be determined according to the understandings between Chinese Brightfood and Bank Leumi and the International Bank, regarding Apax's loans totaling NIS 1.8 billion.
The second largest partner in Tnuva, Mivtach Shamir, has not yet reached an understanding with Brightfood, and the company's owner is currently in the United States and will not return to Israel until the end of the week. Mivtach Shamir holds 21% of Tnuva shares.
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A Brightfood delegation, led by the group's CFO, is currently in Israel with the aim of finalizing all the details of the deal. When the deal is completed, it will be one of the largest sales transactions carried out in Israel in recent years.
Following the completion of the deal, Tnuva will continue to be a private company, as Apax's plans to list it on the Tel Aviv Stock Exchange will not be implemented.
Apax received a tax exemption of NIS 4 billion during the six years it invested in Tnuva.
