(Reuters) – Nestle has agreed to buy the remaining 36.32 percent of Israeli foodmaker Osem for 3.3 billion shekels ($840.5 million), Osem said on Thursday.
Nestle is to buy 40.2 million shares at 82.5 shekels per share, above Wednesday’s closing price of 65.71 shekels.
At a market value of 7.3 billion shekels, Osem is Israel’s largest publicly traded foodmaker.
In a statement to the Tel Aviv Stock Exchange, Osem said the deal, which still is subject to various approvals, valued the company at 9.13 billion shekels.
Nestle currently owns 63.7 percent of Osem. Another 29.4 percent is traded on the Tel Aviv bourse.
Nestle in November had previously offered 80 shekels a share to buy the rest of Osem, the company said.
($1 = 3.9261 shekels) (Reporting by Steven Scheer and Ari Rabinovitch; editing by Jason Neely)
Braun currently serves as EVP and president for international development, overseeing the company’s operating units for Latin America; Japan and South Korea; ASEAN and South Pacific; Greater China and Mongolia; Africa; India and Southwest Asia; and Eurasia and Middle East.
Thompson brings over 35 years of experience in the consumer packaged goods industry, with a strong background in sales, marketing and general management. Before joining Nestlé, he served as CEO of Ghirardelli Chocolate Company and held leadership roles at Clorox Company and Procter & Gamble.
Mondelez International has named Volker Kuhn executive vice president and president of its European division, effective April 1, 2025. Kuhn will replace Vinzenz Gruber, who is set to retire on April 1, 2025. In these new roles, Kuhn will report directly to Dirk Van de Put, chairman and chief executive officer of Mondelez.
