FIMI bought shares from York Capital for $10.1 million.
The uncertainty surrounding control of Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) was resolved today. First Opportunity Funds (FIMI), run by CEO Ishay Davidi, has acquired an additional 2.1 million shares in Gilat for $10.5 million from York Capital Management to increase its stake in the company to 23.2%, making it Gilat's largest shareholder. York, the pervious largest shareholder, sees its stake now reduced to 14.4%.
Gilat develops and markets miniature satellite stations for the communications sector through its commercial and military divisions.
Published by Globes [online], Israel business news - www.globes-online.com - on February 4, 2014
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