Financial

by Ifi Reporter
Category: Financial
The volume of capital raised in Israel in 2018 was $ 6.5 billion, an increase of 17% compared to 2017, according to the annual report issued by IVC Research, in cooperation with the law firm Zisman Aharoni Gayer & Co. The rate of growth in 2018 was higher than that Which was recorded in 2017 and 2016. Not all of the money necessarily flows into the bank accounts of the funds, but rather is used to purchase shares of existing shareholders and of veteran employees. For example, the report mentions that Citrix raised $ 60 million, but $ 45 million was used to buy existing shares
Jan 9, 2019

by Ifi Reporter
Category: Financial
The budget pit, which will reach NIS 8 billion this year, is expected to double in 2020 to NIS 17.4 billion. The Finance Ministry updated cabinet ministers on the alarming figures ahead of Sunday's cabinet meeting to discuss the severe budget deviation and steps to reduce it. The government will be asked to authorize the Treasury to take the first immediate step to deal with the huge deficit expected in 2019
Jan 12, 2019

by Ifi Reporter
Category: Financial
Aeronautics iwhich produces unmanned planess is sold to Rafael and businessman Avihai Stolero for NIS 850 million. This is a 70% premium on the company's current value on the stock exchange. Rafael and Stolero were granted exclusivity for six weeks until the transaction was approved at the general meeting of the Company. The three funds holding Aeronautics: Violeta, Genesis and KCPS will actually sell their 36% stake in the company
Jan 13, 2019

by Ifi Reporter
Category: Financial
The FIMI Fund acquired the TEVADAPTOR business unit, which manufactures medical equipment at the Magda plant in Kiryat Shemona, from Teva for $ 47.5 million. Former CEO of Frutarom, Ori Yehudai, will be appointed Chairman of Migda. TEVADAPTOR was founded in 2005 and has about 200 employees. The plant in Kiryat Shmona deals with the manufacture of medical devices designed to protect the medical staff from exposure to hazardous substances while preparing medicines and treating patients. The company's products are marketed to over 20 countries worldwide. The FIMI Foundation notes that...
Feb 10, 2019

by Ifi Reporter
Category: Financial
Pointer is sold to I.D. Systems. That you pay for Pointer, in a share transaction and in cash, an amount of $ 140 million. The deal is expected to close in the summer. After completion, the company will be traded on the Tel Aviv Stock Exchange and the NASDAQ, and will be called PowerFleet. This is a combined cash and equity transaction, with a cash component of $ 72 million, based on loans of $ 40 million from Bank Hapoalim. Pointer provides mobile asset management services and products, such as technological solutions for fleet management. Pointer provides mobile resource management...
Mar 14, 2019

by Ifi Reporter
Category: Financial
Elta Systems, a subsidiary and division of Israel Aircraft Industries, is acquiring 50% of the Eltam subsidiary of the MalamTeam group for NIS 42 million. The acquisition represents a step in the implementation of IAI's strategy to enter the IDF maintenance and outsourcing market in areas rich in technological equipment
Mar 30, 2019

by Ifi Reporter
Category: Financial
The competition authority decided to reduce the administrative fine it is considering to impose on Coca-Cola Israel for the abuse of monopolistic power and breach of the terms of a merger with Neviot. This emerges from a revised letter of hearing sent today to the Central Bottling Company, which markets Coca-Cola products in Israel. According to the amended version, the Authority decided to retract its intention to impose a fine of NIS 340,000 on the CEO of the distribution company, Nir Levinger.The decision on the amended fine is also subject to a hearing, according to the Authority, for...
Apr 16, 2019

by Ifi Reporter
Category: Financial
Sightec announces a $ 2 million seed investment round from the "Sherpa" "InnoVentures" and "Playfair Capital" funds. The investment will be used to further develop a spatial orientation system based on computer vision and artificial intelligence. The system allows aircraft with full or partial autonomy to orient, navigate, land and perform complex tasks in real time at high accuracy, even when there is a communication limit such as GPS blocks. IAI is among the largest customers of the start-up company
Apr 22, 2019

by Ifi Reporter
Category: Financial
Prime Minister Benjamin Netanyahu and Finance Minister Moshe Kahlon announced that they agreed to continue subsidizing kindergartens operating in the afternoon at the end of the school day, in the coming school year. The proposal will be submitted for Cabinet approval. The two claimed that a financial source was found for the continuation of the subsidy, but did not provide explanations as to the effect of the subsidy on the expected cuts in government ministries, in light of the growing deficit. Attorney General Mandelblit confirmed on Sunday that the budgets of government ministries...
Jun 12, 2019

by Ifi Reporter
Category: Financial
French-Israeli businessman Patrick Derhey buys Sotheby's, the largest auction house in the art world, for $ 3.7 billion. Sotheby's announced that BidFair USA, owned by communications and telecom entrepreneur Patrick Drahi, will pay $ 57 per share in cash, and Sotheby's will become a private company. This is a 61% upside on the share's closing price last Friday on Wall Street - $ 35.39 per share, reflecting a market value of $ 26 billion before the deal
Jun 17, 2019