The Mobileye Sale: The Tax Revenue From the Sale Will Be Paid in US Dollars

 

Bank of Israel announced today that in view of agreements reached between the management of the Israel Tax Authority, the Department of the Accountant General and the Bank of Israel, it has been determined that if the sale of Mobileye to Intel global is finalized, Intel will be able to pay the taxes derived from the transaction (at source deduction) in US dollars, with the aim of preventing an impact on the exchange rate and over-appreciation of the shekel.

Mobileye N.V., the Israeli vehicle safety, and automation systems company, was acquired in March by Intel Corp. for $63.54 per share in cash – an equity value of about $15.3 billion and an enterprise value of $14.7 billion.

The Biggest Ever Exit in the History of Israeli Industry: Intel Buys Mobileye for Over $15 Billion in Cash

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