FIMI buys 11% of Gilat Satellite Networks
FIMI bought 4.4 million Gilat shares at NIS 14.27 per share, a 7.3% premium on yesterday's closing price on the TASE.
Gilat's share price rose 9.1% by mid-afternoon on the TASE today to NIS 14.51, after closing at $3.35 on Nasdaq yesterday, giving a market cap of $138 million.
In a separate development, Gilat today announced that it has received its first order for terminals from one of Europe's largest satellite broadband ISPs to support SES Broadband Services' (SBBS) ka-band consumer services.
FIMI, Israel's largest private equity fund, manages $2.1 billion. It makes financial investments in companies, or acquires the controlling interest in them, creates value in them, and sells them at a profit. Earlier this year, it raised its $850 million fifth fund.
FIMI's past investments include Retalix Ltd. (Nasdaq: RTLX; TASE: RTLX), Ham-Let (Israel-Canada) Ltd. (TASE: HAML), Ormat Industries Ltd. (TASE: ORMT), Ophir Optronics (TASE: OPIR), Scope Metal Trading and Technical Services Ltd. (TASE: SCOP), Medtechnica Ltd. (TASE: MEDI), TAT Technologies Ltd. (Nasdaq:TATT; TASE:TATTF), Merhav Ceramics and Building Materials Center Ltd. (TASE: MRHV), Alon USA Energy Inc. (NYSE:ALJ), Yamaha, Kawasaki, and Sanyang motorcycle importer Metro Motor Marketing Ltd., Tahal Group International BV, and Priortech Ltd. (TASE:PRTC).
Published by Globes [online], Israel business news - www.globes-online.com - on September 10, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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