International private equity group Bridgepoint has signed an agreement to acquire the Arison Group's Miya water technology investment company for $260 million.
Miya was founded by Shari Arison in 2008 as part of the Israel-based Arison Group's investment arm. Arison Group has invested $100 million in Miya to provide water technology solutions to enhance efficiency in general and prevent water wastage in particular.
Incorporated in Luxembourg, Miya specializes in efficiency for urban water grids and provides advanced solutions to municipal water companies worldwide. Miya owns Portuguese-based company Indaqua, which serves seven water companies in northwest Portugal, covering thousands of square kilometers and serving 600,000 people.
the sale of Miya comes as part of a selloff of the Israeli billionaire's assets. Two weeks ago, Arison sold Salt of the Earth real estate company to Fortissimo private equity fund for Nis 160 million, well below the NIS 200-300 million, she had been asking. Last year she sold Shikun u'Binui Holdings Ltd. (TASE: SKBN) to Nati Saidoff at a 15% discount for over NIS 1 billion and her Bank Hapoalim (TASE: POLI) stake for NIS 7 billion.
Published by Globes, Israel business news - en.globes.co.il - on January 28, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019