Israel’s Osem Investments has agreed the purchase in March 2006 of 7% of Kibbutz Lochamei Hagetaot’s holding in the meat substitute production company Tivall.
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The kibbutz currently owns 49% of Tivall. Osem-Nestlé, which already owns 51% of the company, according to Globes. The kibbutz will obtain a guarantee for the sale of its remaining holding at a company value of 1.012bn shekels (US$224.4m). The price for the 7% of Tivall to be sold in March 2006 under the agreement will be 71m shekels.
Following the approval by Osem-Nestlé’s board of directors, Osem CEO Dan Propper said that 7 years from now, Osem-Nestlé would own 100% of both Tivall and Sabra Salads Food Industries, both of which were key growth engines for Osem-Nestlé
