FIMI outbid Sky Israel Private Equity Fund in the final round of bidding for TAT Technologies.
FIMI Opportunity Funds (FIMI), headed by Ishai Davidi, has acquired the 43.71% controlling interest in TAT Technologies Ltd. (Nasdaq:TATT; TASE:TATTF) from TAT Industries Ltd. (TASE:TAT5) for NIS 125 million. TAT Technologies develops and manufactures components for military and civilian aircraft. It has a market cap of NIS 205 million ($53 million).
The sale was handled by Tel Aviv District Court-appointed receivers of Kaman Holdings Ltd. (TASE:KMNH) to sell its holdings in subsidiaries on which Bank Hapoalim (TASE: POLI) and Israel Discount Bank (TASE: DSCT) have liens. Kaman subsidiary Isal Amlat Investment Ltd. (TASE:ISAL) controls TAT Technologies.
FIMI outbid Sky Israel Private Equity Fund in the final round of bidding for TAT Technologies.
Published by Globes [online], Israel business news - www.globes-online.com - on June 23, 2013
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