The Tel Aviv District Court was set to award the company to the sole NIS 16.1 million cash bid by flower grower Gideon Bickel.
Sources inform ''Globes'' that the Flower Board of Israel and US investor Ahron Forem today submitted a new NIS 17 million bid for Agrexco with the Tel Aviv District Court. Tomorrow, the court was due to declare the NIS 16.1 million cash bid by flower grower Gideon Bickel as the company's new owner.
Agrexco's liquidators, Adv. Amit Lederman and Evyatar Kramer will appear Tel Aviv District Court Judge Varda Alshech, who is due to announce the sale of Agrexco and its assets as a going concern.
Bickel Group Export and Trade Ltd. and Orian SM Ltd. (TASE:ORIN) are offering NIS 16.1 million in cash for Agrexco, plus future payments derived from future sales proceeds by Agrexco up to a total offer of NIS 40 million. Agrexco workers committee chairman Shaul Tzivoni said at the time that he prefers Bickel's offer, but today switched their support to the new bid.
Published by Globes [online], Israel business news - www.globes-online.com - on October 2, 2011
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