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Israeli Tnuva Nears Decision On Sale To Chinese Group Bright Food Or An IPO Instead

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There has been further progress in the past few days in the negotiations between Tnuva Food Industries Ltd. controlling shareholders Apax Partners and Mivtach Shamir Holdings Ltd. (TASE:MISH) and China’s Bright Food Group, which wants to acquire control of the company. Apax Israel CEO Zehava Cohen is due to return to Israel tomorrow from China, where she held negotiations.

At the same time, Tnuva is pursuing an IPO on the Tel Aviv Stock Exchange (TASE) in case no deal is reached with Bright Food.

Before the Passover holiday, Tnuva filed a prospectus with the Israel Securities Authority, and apparently plans to hold the offering in May if there is no deal with Bright Food.

Published by Globes [online], Israel business news – www.globes-online.com 

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