The agricultural produce exporter has been placed into liquidation with the aim of being operated as a "going concern."
Attempts are continuing to sell Agrexco, which has been placed into liquidation with the aim of being operated as a "going concern." There are currently three companies known to be interested in acquiring the agricultural produce exporter: C.A.L. Cargo Airlines owner Ofer Gilboa; US businessman Aaron Frum who owns an American agricultural transportation company; and Bickel Flowers owner Gideon Bickel.
This week, the leading offer to buy Agrexco will be submitted to the Tel Aviv District Court. Sources believe that it will be a relatively low bid worth just several tens of millions of shekels. Last year, Agrexco was valued at NIS 600 million, in the government's privatization proposals. The companies making offers have been meeting in recent days with the employees, banks and the liquidator Adv. Shlomo Nass, who is examining offers.
Agrexco is controlled by the Israel government (30.3%), while the Plants Production and Marketing Board (55.3%) and Tnuva Food Industries Ltd. (11%) hold the balance of the shares.
Published by Globes, Israel business news - www.globes-online.com - on September 18, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
Chen Ma'anit and Lilach Weissman