Eden Springs sold its operations and subsidiaries to funds affiliated with Rhone Capital.
Mineral water producer Eden Springs Ltd. (Maayanot Eden) (TASE: MEYD) has sold its operations and subsidiaries to funds affiliated with Rhone Capital LLC for €70 million, reflecting a company value of €240 million net of €170 million in debts.
Eden Springs will restructure its companies to eliminate all debts between them. It estimates that when all the payments are made, the net proceeds will be €24-27 million, including its share of repayments of owners' loans.
Eden Springs posted a net profit of €1.8 million on €61.6 million revenue for the first quarter of 2013.
Published by Globes [online], Israel business news - www.globes-online.com - on June 16, 2013
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