A PYMNTS Company

China/Israel: Food firms resolve merger price tag quarrel

 |  October 5, 2014

A month after Chinese firm Bright Food demanded a lower price to acquire Israeli company Tnuva Food Industries, reports say the companies have agreed on a new deal.

Bright Food plans to acquire the 56.1 percent of the company from its current owner Apax Partners and, according to unnamed sources, the new price of Tnuva falls around $2.3 billion.

Bright Food reportedly demanded a new price following changes within Tnuva since Bright Food and Apax signed an initial merger agreement. The companies are now likely to close the deal by the end of the year.

Full content: Jewish Business News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.