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.
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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.
