Mexican petrochemical giant Mexichem will acquire 80 percent stake in Israeli irrigation company Netafim. The deal is valued at approximately $1,5 billion, the company reported today. Mexichem to Acquire Shares Held by Permira Fund, Kibbutz Magal and Part of Kibbutz Hatzerim. Under the agreement, Netafim's core business will continue to be located in Israel, including manufacturing and R&D, for at least the next 20 years.
The process of acquiring part of Netafim's shares should be completed by the fourth quarter of 2017. Netafim is a company founded in 1965 in Kibbutz Hatzerim, in the Negev desert, grown over the years to become one of the world's leading companies in irrigation systems.
