(From Israel Business Arena)
Byline: Shai Shalev
Australian billionaire John Gandel, chairman of the Gandel group, will acquire a half interest in Plastro Irrigation Systems (TASE: PLSTR) and Palad Infrastructure And Pipes Ltd., two enterprises owned by Kibbutz Gvat. Gandel will pay NIS 62.5 million for 50% of Gvat's holding firm, which is currently a cooperative society owning 76% of Plastro Irrigation and 52% of Palad Infrastructure And Pipes Ltd. Former Ministry of Finance budget director Uri Yogev represents Gandel in Israel.
The deal reflects a NIS 140 million value for Plastro Irrigation (NIS 10.90 per share), 30% higher than the market price …