Tene Fund signed a deal to acquire control (51%) of Haifa Chemicals for $ 300 million

The Tene Fund signed a deal to acquire control (51%) of Haifa Chemicals for $ 300 million. The deal was signed over the weekend and Tene, managed by Ariel Halperin, will add some of its investors to the deal as partners, including Leumi Partners and possibly Menora and Harel.
The purchase was made by brothers Jules and Eddie Trump who bought it in 2001 from Maria Ganger. About two years ago, they negotiated its sale to ICL for $ 1 billion, but the negotiations also failed due to estimates that the deal would not receive the approval of the competition commissioner.
Haifa Chemicals is mainly engaged in the production of fertilizers for agriculture and chemicals for industry, and owns four production facilities and 16 subsidiaries internationally. The company exports its products to more than 100 different countries.
This is the biggest deal Tene has made when the Trump brothers continue to be its partners in the company. Completion of the transaction is expected to take place within 3-4 months.
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