In the race to acquire Tnuva, Israel’s largest food manufacturer and distributor, five consortia submitted their bids, with an offer for US$950m, $150m over the going rate, heading up the competition.
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The consortium, led by British and European real estate tycoon Igal Ahouvi, is comprised of an Irish Investment Fund, Russia’s largest dairy products manufacturer Wimm-Bill Foods, Elco Holdings and the Rothschild Bank.
Other groups hoping to acquire Tnuva include Apax Partners; Markstone Capital Partners Group together with Deutsche Bank; Africa-Israel Investments Ltd; and Mivtach Shamir Holdings together with Bank Leumi and Merrill Lynch.
