At the same time, talks will continue for the sale of Tnuva to Bright Food Group Co, owned by the Chinese government.
The board of directors of Tnuva Food Industries Ltd. today approved pushing forward with an Initial Public Offering (IPO). At the same time, talks will continue for the sale of Tnuva to Bright Food Group Co, owned by the Chinese government.
While the Apax Partners members of the board supported a public offering, the kibbutz movement representatives opposed it, and Mivtach Shamir Holdings Ltd. (TASE:MISH) representatives abstained.
Earlier this month the government decided to put soft white cheese and whipping cream under price controls. The move is expected to cut Tnuva's company value by NIS 6-70 million. Consequently, market sources see the company value between NIS 600-700 million.