the Israeli Military Industry will be sold to Elbit systems for NIS 1.8 billion

The Ministry of Finance has completed negotiations on the sale of the military industry, also known as IMI, to Elbit Systems, owned by businessman Mickey Federman, for NIS 1.8 billion
In his announcement, the Ministry of Finance noted that it had been decided to approve the transaction and that the amount that IMI would receive would be added to NIS 100 million, subject to the Company's business results.
This means that Elbit has undertaken to pay this increment to the State in the future, in accordance with the volume of sales of products already developed by IMI and which are in the Company's portfolio.
The negotiations have continued intensively in recent months, against the background of the concern of government security companies, IAI and Rafael Defense Systems that the sale of IMI to Elbit will strengthen its purchasing power and enable it to establish capabilities in the fields of rockets and missiles.