Dor Chemicals together with Bain Capital will still own a third of the Treofan Group.
Dor Chemicals (TASE: DORC) notified the Tel Aviv Stock Exchange today that its subsidiary, Dor Film International , had signed an MOU with an external investor. The investor will inject $20 million into Dor Film BV for one third of the shares in the company. Dor Film International holds 51% of Dor Film BV, which owns the Treofan Group.
After the deal is completed, Dor Chemicals and its subsidiaries, together with Bain Capital, will still own one third of the share capital in the Treofan Group.
Dor Chemicals has lost money over the past six quarters, mostly as a result of a series of leveraged acquisitions, which greatly increased its financing expenses.
Published by Globes [online] - www.globes.co.il - on January 16, 2005