August 8, 2017 |
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
Mexican petrochemicals company agrees to pay private equity firm Permira roughly $1.9bn for its 80% stake in Netafim