Shamrock buys 33% of Kaman

The purchase was concentrated in stock of subsidies Kaman Trade and Mendelson, and was expected to bring Kaman "significant capital profits" that could not be precisely estimated until it is known how the investment will be divided between the subsidies.

By DANIEL KENNEMER
September 14, 2006 06:45

 
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US investment concern Shamrock has signed an agreement to purchase one-third of Herzliya-based Kaman Holdings (Mendelson Group) Ltd for NIS 100 million, valuing the group at NIS 300m., Kaman told the Tel Aviv Stock Exchange Wednesday. The purchase was concentrated in stock of subsidies Kaman Trade and Mendelson, and was expected to bring Kaman "significant capital profits" that could not be precisely estimated until it is known how the investment will be divided between the subsidies. Kaman welcomed Shamrock as a "strategic investor" whose entry would boost the group's growth. Separately, the kibbutz-industry oriented Katzir Fund said it agreed Wednesday to buy 50 percent of Kibbutz Yiron's Paskal Industries for NIS 41m.

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