Netafim offered Kibbutz Gvat NIS 11-13 per share for its stake, 33-45% above Plastro’s opening price today.
Plastro Irrigation Systems Ltd. (TASE: PLSTR) rose 7% in morning trading, after Netafim Ltd. made an offer to buy Kibbutz Gvat’s stake in the company. Netafim has offered the kibbutz NIS 11-13 per share for its stake, 33-45% above Plastro’s opening price today.
Netafim said, “The acquisition of Plastro shares by Netafim will ensure Plastro continued activity in Israel and in Kibbutz Gvat.
Earlier this month, Plastro controlling shareholder, Australian billionaire John Gandel, sold his stake in the company to an investors group controlled by his representative in Israel, Ori Yogev, at NIS 8.75 per share.
Published by Globes [online], Israel business news - www.globes.co.il - on April 18, 2007
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