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Israel: Investment units complete $1B merger

By  |  March 2, 2014

Israel-based Discount Investment Corp announced the finalization of the merger between the firm and its sister company Koor Industries, say reports, in a transaction that places the value of Koors at $1 billion.

Discount had already owned a 67 percent stake in Koor. The deal will now take Koor private and under complete control of Discount.

The merger follows recently-passed legislation that took aim at the dominance of the nation’s largest conglomerates.

Full Content: Reuters

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