Mexichem picks up Israeli irrigation business

Mexichem picks up Israeli irrigation business

Mexico Middle East M&A

Mexichem has agreed to buy the Israeli irrigation and agriculture business Netafim for roughly $1.9bn from private equity firm Permira. The Mexican petrochemical business will pick up an 80% stake in the company, while Kibbutz Hatzerim, the founder, will retain a 20% share, a statement from Permira showed. PE fund Permira offloaded its 61% stake, while Kibbutz Hatzerim sold 13% and Kibbutz Magal divested its 6% share, according to an M&A banker. Bank of America Merrill Lynch and Goldman Sach

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial