Nestle’s acquisition of Israel’s largest listed food maker Osem Investments is expected to be completed on April 20, Osem released a statement on Tel Aviv Stock Exchange, further quoted by Reuters.
The Osem Group was formed in 1942 and Osem Investments Ltd. its parent company, consolidates the entire Osem Group. They produce around 2,000 different food items in eleven production sites and markets them via a central distribution center and other principal transshipment sites. Osem’s food items are exported to European countries and United States.
Nestle – the Swiss food giant already owns 63.7 per cent of the company, and the institutions hold 7 per cent.
The acquisition deal between Osem and Nestle is expected to be completed by April 17 if the merger certificate is received by then.
In February, Nestle offered 3.3 billion shekels ($871.5 million), or 82.5 shekels per share to Osem. As for Osem shares, it does not own in a deal that values the company at 9.13 billion shekels.
