Israeli tycoon Arcadi Gaydamak has bought almost 45% of kosher food group G. Willi-Food International.
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The company said today (25 June) that Gaydamak had bought the stake in Willi-Food Investments, its principal shareholder.
Gaydamak paid the vehicle’s majority owners, Zwi and Joseph Williger, some NIS171.3m (US$40.5m) for the shareholding.
Zwi Williger is to sell around 30.5% of his outstanding shares in Willi-Food Investments, leaving him with 8% of the outstanding shares. Joseph Williger, meanwhile, will sell his entire stake.
Zwi Williger said: “Our commitment to Investments and G. Willi-Food remains as strong as ever. We have built one of the most significant Kosher food companies in Israel and are rapidly expanding our presence in international markets.”
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By GlobalData
