After hiking prices, and after arguing that it had incurred losses totaling NIS 200 million because of the government had not raised the controlled prices of milk products - an issue on which the company has petitioned the High Court of Justice against Minister of Finance Moshe Kahlon - Israel's largest food company Tnuva has declared a dividend of NIS 200 million to be paid to controlling shareholder Bright Food of China, and to the kibbutzim that still own 23% of the company. RELATED ARTICLES China set to approve Israeli dairy imports Tene Fund buys 50% of Huliot from Kibbutz Sde Nehemia Treasury team ready with plan to curb food prices Tnuva hikes dairy products prices Tara also puts up dairy product prices Tnuva's petition concerning milk prices will be heard in the High Court of Justice this month. Citing the finance minister's failure to sign an order raising price of milk products subject to price controls, last summer Tnuva hiked its prices for non-controlled products by up to 3.5%. Tnuva says that the dividend is a distribution of profits on the sale of residential towers on the former site of the Tel Aviv wholesale market, a deal signed with Gindi during the period that Tnuva was controlled by Apax Partners. In 2015, Bright Food bought control of Tnuva from Apax Partners and Meir Shamir for over NIS 8 billion. Published by Globes, Israel business news - en.globes.co.il - on December 2, 2018 © Copyright of Globes Publisher Itonut (1983) Ltd. 2018
