ISRAEL: Tara Dairies may forfeit government if JV goes ahead

The government's Investment Center is likely to reconsider its decision to provide a grant of £5m to Tara Dairies as an encouragement for establishing its new dairy in a development region in the southern part of the country, "should the controlling shares of Tara be sold to another company." The announcement was made in response to a press report revealing Tara’s new strategy to sell at least 51% of its shares to a large concern, “preferably to an international corporation."

March 2, 2001

The government’s Investment Center is likely to reconsider its decision to provide a grant of £5m to Tara Dairies as an encouragement for establishing its new dairy in a development region in the southern part of the country, “should the controlling shares of Tara be sold to another company.” The announcement was made in response to a press report revealing Tara’s new strategy to sell at least 51% of its shares to a large concern, “preferably to an international corporation.”