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FinancialNews


  • 26-11-18

    Israel Military Industries to be acquired for USD481m

    (MENAFN) Israel's defense electronics company Elbit Systems was confirmed to be purchasing Israel Military Industries (IMI) at a cost of USD481 million.

    The Israeli company was explained to be making the first batch of payment, USD375 million, same day as the signing of the purchase agreement, while the rest is to be paid in 2020 and 2022.

    Israeli Prime Minister Benjamin Netanyahu stated: "the sale will facilitate the advancement of the Israeli defense industry, leverage Israel's technological capabilities and increase defense exports."

    Israeli Finance Minister Moshe Kahlon also said: "this is an important day for the defense industries in Israel. Its citizens will benefit from this move in the coming years."

    MENAFN2611201800450000ID1097745559

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