Capital Point Ltd. (TASE:CPTP) has completed acquisition of full ownership of the Meytag Technological Incubator in Katzrin on the Golan Heights. Capital Point already held 80% of the incubator and has now acquired the remaining 20% from Golan Yazamut Technologies.
The value of the deal has not been published but Capital Point's capital gain from the transaction is believed to be worth about NIS 3.3 million.
Under the terms of the agreement, Golan Yazamut Technologies, which is owned by regional economic companies on the Golan Heights, will continue to be involved in the incubator's activities through a golden share that will ensure that the incubator remains linked to the region.
Capital Point also fully owns Ofakim High Tech Ventures, after completing a similar deal with the representatives of the original Ofakim incubator. Capital Point's shares rose 12% in January, giving it a market cap of NIS 28.7 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 1, 2009
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