An acquisition is subject to approval by Antitrust Authority director general Ronit Kan.
Vita-Galilee Fruit Ltd. (Vita-Pri Galil) (TASE: VITA) is in advanced negotiations to acquire Nahariya-based tomato cannery Miluz Ltd.
Sources inform ''Globes'' that the negotiations are nearly finalized, and that an agreement in principle has been reached with the Histadrut (General Federation of Labor in Israel) for Miluz's employees to continue working under a collective agreement.
An acquisition is subject to approval by Antitrust Authority director general Ronit Kan, because Miluz is the manufacturer of the "Tal" brand tomato paste, and Vita's products include tomato paste.
Published by Globes [online], Israel business news - www.globes-online.com - on February 24, 2010
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