General Atlantic in talks to buy Netafim stake

Markstone reportedly wants to sell its 14 percent stake in Netafim.

By GALI WEINREB, TAMAR KOBLENZ
November 10, 2010 07:36
General Atlantic in talks to buy Netafim stake

water 224-88. (photo credit: )

Markstone Capital Partners Group LLC is in preliminary talks to sell its stake in irrigation-systems maker Netafim Ltd. US private- equity fund General Atlantic LLC (GA) is one of the companies interested in acquiring the stake, people familiar with the matter told Globes.

Markstone reportedly wants to sell its 14 percent stake in Netafim (with an option to increase the holding to 20%) at a company value of $650 million to $700m. Netafim’s other shareholders are Tene Capital Ltd., Kibbutz Hatzerim (43% stake), Kibbutz Magal (22%) and Kibbutz Yiftah (6%).

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Netafim’s chairman is Israel Makov.

Netafim is a global leader in the development and manufacture of irrigation systems. The company’s main factory is at Kibbutz Hatzerim in the Negev, and it has other factories at Kibbutz Magal and Kibbutz Yiftah, with representative offices worldwide. The company’s flagship products are water-saving drip-irrigation pipeline systems.


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