Jerusalem, Jan. 6 - Private equity firm Apax Partners and Israel's Mivtach Shamir Holdings will take control of Israeli food company Tnuva on Monday.
Mivtach Shamir said on Sunday in a statement to the Tel Aviv Stock Exchange that the deal to buy a 76.7 percent stake in Tnuva will close on Monday at price that values the entire company at $989.1 million, a little below an initial value of $1.03 billion.
Mivtach Shamir will own 20.67 percent of Tnuva worth $204.4 million.
Apax won a tender in November 2006 to buy control of Tnuva, which is owned by more than 600 kibbutzim, or collective farms. Apax later agreed with Mivtach Shamir to distribute the shares between them, with Apax taking a larger stake.