The beneficiaries are Apax, Mivtach Shamir, and a large number of kibbutzim.
Tnuva Food Industries Ltd. will distribute a NIS 165 million dividend. Apax Partners owns 56.1% of Tnuva, Mivtach Shamir Holdings Ltd. (TASE:MISH) owns 20.7%, and a large number of kibbutzim own 23%.
Apax Israel will receive NIS 92.5 million of the dividend, Mivtach Shamir will receive NIS 34.1 million, the kibbutzim will receive NIS 38.3 million. Apax and Mivtach Shamir will apparently use part of the proceeds to pay back the loan they took to acquire the company.
Tnuva declined to comment on the report.
Published by Globes [online], Israel business news - www.globes-online.com - on February 6, 2014
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