(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%).
Netafim’s chairman is Israel
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.