The agrochemicals manufacturer Makhteshim Agan Industries Ltd sold to ChemChina

Makhteshim Agan

Makhteshim Agan

October 21, 2011

The agrochemicals Israeli manufacturer Makhteshim Agan Industries Ltd. owned by Nochi Dankner, who controlls IDB Holding Corp. Ltd. (TASE:IDBH) was sold last October 17 2011, to China National Chemical Corporation (ChemChina,) a subsidiary of the China National Agrochemical Corporation.

Prime Minister Benjamin Netanyahu today, called businessman Nochi Dankner and congratulated him on the giant deal. The PM told Dankner that, “this is a great achievement for the Israeli economy,” and noted the contribution of talented entrepreneurs, managers and ordinary workers to the Israeli economy. The Prime Minister added that, “The deal proves the economic strength of the State of Israel.”

Based on Globes, “Makhteshim becomes a private company, 60% of which is owned by ChemChina, and 40% by Koor. IDB subsidiary Koor Industries Ltd. (TASE:KOR) received $1.1 billion, including $168 million for 7% of Makhteshim and $960 million in a non-recourse loan secured by its remaining 40% stake in the company.”

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