Isal acquires 75% of Hagalil

Isal Amlat Investment Ltd., a subsidiary of Kaman Holdings Ltd., has agreed to buy 75 percent of Hagalil Industries for NIS 46.2 million.

By SHARON WROBEL
April 5, 2007 06:54

 
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Isal Amlat Investment Ltd., a subsidiary of Kaman Holdings Ltd., has agreed to buy 75 percent of Hagalil Industries for NIS 46.2 million. Hagalil, which specializes in the manufacture and coating of rubber rollers for the print industry, also reached an accord with Isal for three-year "put" and "call" options on the remaining 25% stake, which be exercisable at a minimum value of NIS 62.5m, which reflects the value for the acquisition of the current controlling stake. Under terms of the deal, Rafi Silmann and Yitzhak Rosen, the current owners of Hagalil, will continue to manage the company over the next year and then act as advisers for an additional two years.

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