(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)
Heineken announces that, following United Breweries Limited’s (UBL) annual general meeting on 29 July 2021, it has obtained control of UBL in India.
Collaboration has been a vital driver of Ferrero’s sustainability journey, and the company has developed long-standing partnerships with trusted suppliers.
NovoNutrients is making moves to scale its process that uses industrial carbon dioxide emissions, cheap hydrogen and naturally occurring microbes to create high-grade proteins for human and animal consumption.