China’s Fosun Set to Buy Stake in Israeli Co Ahava

Gaon Holdings is selling its 15 percent stake in the Dead Sea cosmetics manufacturer at a company value of $73.3 million.

the Israeli cosmetics company  AHAVA

 

China largest private-owned conglomerate Fosun has agreed to buy 15 percent stake in the Israeli Dead Sea cosmetics manufacturer Ahava from B. Gaon Holdings Ltd, at a company value of NIS 280 million ($73.3 million).

Gaon reported the deal to the Tel Aviv Stock Exchange today.

In September 2015 become the majority shareholder of Ahava cosmetics company for close to $76.5 million.

Ahava, skincare products maker from Dead Sea minerals moving its facilities from the West Bank, potentially in response to pressure from the Boycott, Divestment and Sanctions movement, which seeks to damage Israel’s economy for its policies against Palestinians. The company denies it is yielding to BDS pressure.

Ahava could be close to breaking into the Chinese cosmetics markets.
Gaon expects the deal to be signed in the coming days. Other major shareholders in Ahava include the US Shamrock Fund,  the Livnat family and Kibbutz Mitzpeh Shalem. 
 
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