DBSI will hold a 24.5% stake in the plastics raw materials manufacturer.
Kafrit Industries Ltd. (TASE:KAFR), owned by Kibbutz Kfar Aza, has announced that it is bringing in a new investor that is injecting NIS 47 million into the company. Kafrit did not say who the investor is but sources inform "Globes" that it is Yossi Ben-Shalom and Barak Dotan's DBSI Investments.
As part of the investment, DBSI will be allocated 3.1 million Kafrit shares (about 14.5% of the company's shares) for NIS 40 million. The price per share in the deal will be NIS 13, a 12% discount on Sunday's closing price. DBSI will also receive options to buy 2.8 million more shares that will raise its stake in Kafrit to 24.5%, at a price of NIS 14.25 per share, a premium on the market price. DBSI will pay NIS 7 million for the options.
With a market cap of NIS 261 million, Kafrit manufactures raw materials for the plastics industry.
Published by Globes [online], Israel business news - www.globes-online.com - on February 17, 2015
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Kafrit